Avery Dennison Co. (NYSE:AVY) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 133.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,318 shares of the industrial products company’s stock after acquiring an additional 15,040 shares during the period. Mutual of America Capital Management LLC’s holdings in Avery Dennison were worth $5,320,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in Avery Dennison by 102,432.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock worth $352,422,000 after buying an additional 1,945,184 shares during the period. Norges Bank purchased a new position in Avery Dennison during the fourth quarter worth about $153,787,000. Morgan Stanley lifted its position in Avery Dennison by 55.7% during the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after buying an additional 639,521 shares during the period. Lazard Asset Management LLC lifted its position in Avery Dennison by 48.0% during the first quarter. Lazard Asset Management LLC now owns 1,748,006 shares of the industrial products company’s stock worth $304,099,000 after buying an additional 566,938 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Avery Dennison by 22.7% during the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after buying an additional 493,857 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVY. Citigroup increased their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Truist Financial restated a “buy” rating and issued 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, Raymond James raised their price objective on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Avery Dennison Trading Down 1.8 %

Shares of Avery Dennison stock opened at $211.23 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The business has a fifty day simple moving average of $214.03 and a 200-day simple moving average of $198.53. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business posted $1.65 earnings per share. Avery Dennison’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

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

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.