City Holding Co. Sells 1,500 Shares of Avery Dennison Co. (NYSE:AVY)

City Holding Co. cut its position in shares of Avery Dennison Co. (NYSE:AVY) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,103 shares of the industrial products company’s stock after selling 1,500 shares during the quarter. City Holding Co.’s holdings in Avery Dennison were worth $1,142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after buying an additional 29,541 shares in the last quarter. Victory Capital Management Inc. raised its position in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares in the last quarter. Icon Wealth Advisors LLC lifted its stake in Avery Dennison by 553.5% during the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 2,657 shares during the period. Bank of Montreal Can boosted its holdings in Avery Dennison by 1.9% during the second quarter. Bank of Montreal Can now owns 250,213 shares of the industrial products company’s stock valued at $57,581,000 after purchasing an additional 4,752 shares in the last quarter. Finally, Meyer Handelman Co. bought a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $4,263,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Down 0.1 %

NYSE AVY opened at $191.07 on Tuesday. The stock has a market capitalization of $15.35 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $181.99 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock has a fifty day moving average of $194.80 and a 200-day moving average of $207.61.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.10 EPS. On average, equities research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.88 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.84%. Avery Dennison’s payout ratio is presently 42.26%.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

AVY has been the topic of several recent analyst reports. Truist Financial decreased their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America reduced their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays dropped their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. UBS Group reduced their price target 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. Finally, Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $235.05.

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.