Peapack Gladstone Financial Corp Cuts Stake in Avery Dennison Co. (NYSE:AVY)

Peapack Gladstone Financial Corp lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,555 shares of the industrial products company’s stock after selling 562 shares during the period. Peapack Gladstone Financial Corp owned approximately 0.13% of Avery Dennison worth $20,127,000 at the end of the most recent quarter.

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

Avery Dennison Trading Down 3.4 %

AVY stock opened at $170.30 on Friday. Avery Dennison Co. has a 52-week low of $168.77 and a 52-week 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 market cap of $13.45 billion, a P/E ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.85. The company’s 50-day simple moving average is $181.82 and its 200-day simple moving average is $195.09.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date 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 is currently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVY shares. Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. 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. Raymond James reaffirmed an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price 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.