Avery Dennison Co. (NYSE:AVY) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in Avery Dennison Co. (NYSE:AVY) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,357 shares of the industrial products company’s stock after acquiring an additional 455 shares during the period. Daiwa Securities Group Inc.’s holdings in Avery Dennison were worth $1,487,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AVY. Avior Wealth Management LLC increased its holdings in Avery Dennison by 4.7% in the fourth quarter. Avior Wealth Management LLC now owns 3,111 shares of the industrial products company’s stock valued at $629,000 after buying an additional 140 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in Avery Dennison by 11.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 2,520 shares of the industrial products company’s stock valued at $509,000 after buying an additional 258 shares during the last quarter. SVB Wealth LLC purchased a new position in Avery Dennison in the fourth quarter valued at $230,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Avery Dennison in the fourth quarter valued at $221,000. Finally, Carnegie Capital Asset Management LLC increased its holdings in Avery Dennison by 18.3% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,715 shares of the industrial products company’s stock valued at $347,000 after buying an additional 265 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of AVY opened at $211.33 on Wednesday. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The company has a market capitalization of $17.02 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. The firm has a 50-day simple moving average of $215.22 and a 200-day simple moving average of $199.92. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Avery Dennison Co. will post 9.26 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.81 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a yield of 1.53%. Avery Dennison’s payout ratio is currently 52.17%.

Insider Activity at Avery Dennison

In related news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock worth $4,217,705 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday. Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Truist Financial reaffirmed a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. JPMorgan Chase & Co. raised their price objective on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, UBS Group raised their price objective on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.00.

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.