Avery Dennison Co. (NYSE:AVY) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Avery Dennison Co. (NYSE:AVY) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 699,091 shares of the industrial products company’s stock after buying an additional 10,674 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Avery Dennison were worth $130,821,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Empirical Finance LLC grew its position in shares of Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 57 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. Lindenwold Advisors INC increased its position in shares of Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 59 shares in the last quarter. Finally, Cynosure Group LLC lifted its holdings in shares of Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 59 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Up 0.8 %

Shares of NYSE:AVY opened at $183.94 on Friday. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm’s 50-day simple moving average is $186.11 and its 200-day simple moving average is $200.82. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVY. Citigroup dropped their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group lowered their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $222.51.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.