Sepio Capital LP Sells 411 Shares of Avery Dennison Co. (NYSE:AVY)

Sepio Capital LP lowered its position in Avery Dennison Co. (NYSE:AVY) by 7.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,854 shares of the industrial products company’s stock after selling 411 shares during the period. Sepio Capital LP’s holdings in Avery Dennison were worth $908,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after purchasing an additional 29,541 shares in the last quarter. Meyer Handelman Co. bought a new position in Avery Dennison during the fourth quarter valued at about $4,263,000. JPMorgan Chase & Co. lifted its position in shares of Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after buying an additional 46,390 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of Avery Dennison during the 3rd quarter worth about $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Avery Dennison during the 4th quarter valued at about $218,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’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 value of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVY. JPMorgan Chase & Co. upgraded 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 report on Friday, January 31st. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Truist Financial reiterated a “buy” rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Trading Down 3.4 %

Shares of AVY opened at $170.30 on Monday. The stock’s 50-day moving average price is $181.82 and its 200 day moving average price is $194.99. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12-month low of $168.77 and a 12-month high of $233.48. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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, research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date of this dividend 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 currently 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.