Huntington National Bank Buys 308 Shares of Avery Dennison Co. (NYSE:AVY)

Huntington National Bank grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,639 shares of the industrial products company’s stock after buying an additional 308 shares during the period. Huntington National Bank’s holdings in Avery Dennison were worth $681,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Regents Gate Capital LLP acquired a new position in Avery Dennison in the 4th quarter valued at approximately $37,000. Spire Wealth Management raised its stake in shares of Avery Dennison by 76.0% in the fourth 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 in the last quarter. AdvisorNet Financial Inc lifted its position in Avery Dennison by 18.8% in 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 during the period. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison during the fourth quarter worth $68,000. Finally, Assetmark Inc. raised its stake in shares of Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after buying an additional 73 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AVY shares. Raymond James reiterated an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group lowered their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and set a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup lowered their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $222.51.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.84% of the company’s stock.

Avery Dennison Trading Down 3.4 %

AVY opened at $170.30 on Friday. Avery Dennison Co. has a 1-year low of $168.77 and a 1-year high of $233.48. The stock has a market capitalization of $13.45 billion, a PE ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $181.82 and a two-hundred day moving average price of $195.27.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results 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 analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.07%. Avery Dennison’s payout ratio is 40.37%.

Avery Dennison Company 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.