Monte Financial Group LLC Has $1.06 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Monte Financial Group LLC increased its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 5,680 shares of the industrial products company’s stock after purchasing an additional 150 shares during the quarter. Monte Financial Group LLC’s holdings in Avery Dennison were worth $1,063,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Avery Dennison by 8.5% in the 4th quarter. Fifth Third Bancorp now owns 3,242 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 254 shares during the last quarter. Gradient Investments LLC lifted its holdings in Avery Dennison by 0.7% in the fourth quarter. Gradient Investments LLC now owns 68,310 shares of the industrial products company’s stock valued at $12,783,000 after buying an additional 501 shares during the period. Exchange Traded Concepts LLC grew its holdings in Avery Dennison by 9.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,114 shares of the industrial products company’s stock worth $770,000 after acquiring an additional 343 shares during the period. Bill Few Associates Inc. increased its stake in shares of Avery Dennison by 0.9% in the 4th quarter. Bill Few Associates Inc. now owns 13,301 shares of the industrial products company’s stock valued at $2,489,000 after acquiring an additional 116 shares during the last quarter. Finally, Mutual Advisors LLC raised its position in shares of Avery Dennison by 74.9% in the 4th quarter. Mutual Advisors LLC now owns 2,498 shares of the industrial products company’s stock valued at $478,000 after acquiring an additional 1,070 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

AVY has been the subject of several recent analyst reports. Truist Financial lowered their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, January 6th. BMO Capital Markets lowered their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup reduced their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. UBS Group lowered their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Avery Dennison Stock Down 1.0 %

Avery Dennison stock opened at $191.33 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 1-year low of $181.99 and a 1-year high of $233.48. The company has a fifty day simple moving average of $194.09 and a 200 day simple moving average of $207.06. The company has a market cap of $15.37 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89.

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, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company earned $2.10 EPS. Avery Dennison’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

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.