Fruth Investment Management Has $224,000 Stake in Avery Dennison Co. (NYSE:AVY)

Fruth Investment Management reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the industrial products company’s stock after selling 100 shares during the quarter. Fruth Investment Management’s holdings in Avery Dennison were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Czech National Bank raised its stake in shares of Avery Dennison by 6.9% in the third quarter. Czech National Bank now owns 16,402 shares of the industrial products company’s stock valued at $3,621,000 after acquiring an additional 1,052 shares during the last quarter. GAMMA Investing LLC raised its position in Avery Dennison by 73.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,694 shares of the industrial products company’s stock valued at $374,000 after purchasing an additional 718 shares during the last quarter. City Holding Co. boosted its stake in Avery Dennison by 5.8% in the third quarter. City Holding Co. now owns 7,603 shares of the industrial products company’s stock worth $1,678,000 after purchasing an additional 420 shares in the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of Avery Dennison by 16.5% during the third quarter. Franklin Street Advisors Inc. NC now owns 1,881 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 266 shares during the last quarter. Finally, Clarius Group LLC acquired a new stake in shares of Avery Dennison in the third quarter valued at $201,000. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup reduced their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $227.15.

Avery Dennison Stock Up 1.0 %

Shares of Avery Dennison stock opened at $184.54 on Thursday. Avery Dennison Co. has a 12 month low of $179.20 and a 12 month high of $233.48. The business has a fifty day simple moving average of $192.28 and a 200 day simple moving average of $205.33. 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 stock has a market cap of $14.83 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced 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%. Research analysts predict that Avery Dennison Co. will post 10.03 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Activity

In other 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 transaction of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

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.