National Bank of Canada FI Sells 3,545 Shares of Avery Dennison Co. (NYSE:AVY)

National Bank of Canada FI cut its holdings in Avery Dennison Co. (NYSE:AVY) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,617 shares of the industrial products company’s stock after selling 3,545 shares during the period. National Bank of Canada FI’s holdings in Avery Dennison were worth $7,039,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in shares of Avery Dennison by 3.4% during the third quarter. Janus Henderson Group PLC now owns 9,133 shares of the industrial products company’s stock worth $2,016,000 after buying an additional 300 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in Avery Dennison by 2.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 32,969 shares of the industrial products company’s stock valued at $7,278,000 after purchasing an additional 893 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Avery Dennison by 18.1% in the 3rd quarter. Quantinno Capital Management LP now owns 21,681 shares of the industrial products company’s stock valued at $4,786,000 after purchasing an additional 3,319 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in Avery Dennison in the 3rd quarter worth $451,000. Finally, EP Wealth Advisors LLC increased its holdings in shares of Avery Dennison by 286.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 4,381 shares of the industrial products company’s stock worth $967,000 after purchasing an additional 3,247 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a report on Monday, February 3rd. Truist Financial restated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, 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 report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.84% of the stock is currently owned by company insiders.

Avery Dennison Trading Down 3.4 %

Shares of AVY stock opened at $170.30 on Monday. The company has a market capitalization of $13.45 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12-month low of $168.77 and a 12-month 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 has a 50-day moving average price of $181.82 and a 200 day moving average price of $194.99.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) 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%. Research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.07%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Avery Dennison Profile

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.