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

Daiwa Securities Group Inc. lifted its stake in Avery Dennison Co. (NYSE:AVY) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 7,357 shares of the industrial products company’s stock after purchasing an additional 455 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Avery Dennison were worth $1,487,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AVY. Cerity Partners LLC lifted its stake in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares during the period. Morgan Stanley lifted its stake in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after acquiring an additional 639,521 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after acquiring an additional 493,857 shares during the period. Boston Partners lifted its stake in shares of Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after acquiring an additional 307,325 shares during the period. Finally, FMR LLC lifted its stake in Avery Dennison by 27.5% during the third quarter. FMR LLC now owns 958,790 shares of the industrial products company’s stock valued at $175,142,000 after purchasing an additional 206,784 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

Shares of AVY opened at $211.33 on Wednesday. The company’s fifty day moving average is $215.22 and its 200-day moving average is $199.92. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $225.26. The firm has a market cap 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 company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS 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 company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business posted $1.65 EPS. Avery Dennison’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Avery Dennison Co. will post 9.26 EPS for the current fiscal 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 issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AVY shares. Truist Financial reissued a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. UBS Group upped their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Raymond James upped their price target on shares of Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective on the stock. in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $221.00.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. In the last three months, insiders sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company’s stock.

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.