Amalgamated Bank Sells 2,114 Shares of Avery Dennison Co. (NYSE:AVY)

Amalgamated Bank decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,195 shares of the industrial products company’s stock after selling 2,114 shares during the quarter. Amalgamated Bank’s holdings in Avery Dennison were worth $5,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliance Wealth Advisors LLC UT increased its stake in Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after purchasing an additional 56 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in Avery Dennison by 5.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after buying an additional 57 shares in the last quarter. New York Life Investment Management LLC boosted its position in Avery Dennison by 0.5% in the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 58 shares during the period. Signaturefd LLC grew its stake in Avery Dennison by 25.5% in the 3rd quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 61 shares in the last quarter. Finally, Advisor Partners II LLC raised its stake in shares of Avery Dennison by 1.9% during the third quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 63 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,879 shares of company stock valued at $4,217,705. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Up 0.3 %

Avery Dennison stock opened at $222.14 on Tuesday. The business has a fifty day moving average price of $216.54 and a 200-day moving average price of $202.18. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $225.26. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 32.43, a PEG ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a $0.88 dividend. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 47.30%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVY. JPMorgan Chase & Co. raised their price objective on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Raymond James restated an “outperform” rating and issued a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. UBS Group increased their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Robert W. Baird boosted their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $224.00.

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.