Tokio Marine Asset Management Co. Ltd. Grows Position in Avery Dennison Co. (NYSE:AVY)

Tokio Marine Asset Management Co. Ltd. raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,849 shares of the industrial products company’s stock after buying an additional 129 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Avery Dennison were worth $374,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Avery Dennison during the 3rd quarter valued at approximately $32,000. Milestone Investment Advisors LLC purchased a new position in Avery Dennison during the 3rd quarter valued at approximately $36,000. Anchor Investment Management LLC purchased a new position in Avery Dennison during the 4th quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Avery Dennison by 164.4% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. Finally, Adirondack Trust Co. purchased a new position in shares of Avery Dennison in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now owns 6,102 shares in the company, valued at $1,305,217.80. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.9 %

Shares of NYSE AVY opened at $219.03 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $215.71 and a two-hundred day simple moving average of $200.58. The firm has a market cap of $17.64 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $225.26.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.16. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Avery Dennison’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. Analysts expect that Avery Dennison Co. will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. Avery Dennison’s payout ratio is 51.39%.

Analyst Ratings Changes

AVY has been the subject of a number of recent research reports. Robert W. Baird lifted their target price on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James reiterated an “outperform” rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a report on Thursday. UBS Group lifted their target price on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Truist Financial raised their price target on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

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.