Aigen Investment Management LP Has $594,000 Holdings in Avery Dennison Co. (NYSE:AVY)

Aigen Investment Management LP cut its position in Avery Dennison Co. (NYSE:AVY) by 31.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,175 shares of the industrial products company’s stock after selling 1,474 shares during the quarter. Aigen Investment Management LP’s holdings in Avery Dennison were worth $594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC grew its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in Avery Dennison in the 3rd quarter valued at $36,000. Regents Gate Capital LLP acquired a new stake in Avery Dennison in the 4th quarter worth $37,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison in the 3rd quarter worth $39,000. Finally, Spire Wealth Management grew its position in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Trading Down 0.1 %

Shares of NYSE AVY opened at $182.60 on Friday. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48. The company has a market cap of $14.42 billion, a PE ratio of 20.94, a P/E/G ratio of 2.07 and a beta of 0.89. 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 company has a 50-day moving average of $186.21 and a two-hundred day moving average of $201.10.

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

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AVY shares. UBS Group decreased their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Truist Financial restated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Three research 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 an average target price 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. Insiders own 1.10% of the company’s stock.

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.