Level Four Advisory Services LLC Grows Stock Position in Avery Dennison Co. (NYSE:AVY)

Level Four Advisory Services LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,832 shares of the industrial products company’s stock after purchasing an additional 101 shares during the quarter. Level Four Advisory Services LLC’s holdings in Avery Dennison were worth $343,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Spire Wealth Management increased its position in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $68,000. AdvisorNet Financial Inc lifted its position in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $178.05 on Tuesday. Avery Dennison Co. has a 52-week low of $173.02 and a 52-week high of $233.48. The stock’s 50-day moving average price is $183.02 and its 200 day moving average price is $196.14. 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 stock has a market capitalization of $14.06 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. The trade was a 2.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of several analyst reports. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.