Russell Investments Group Ltd. Grows Position in Avery Dennison Co. (NYSE:AVY)

Russell Investments Group Ltd. increased its position in Avery Dennison Co. (NYSE:AVY) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,553 shares of the industrial products company’s stock after purchasing an additional 4,969 shares during the period. Russell Investments Group Ltd.’s holdings in Avery Dennison were worth $17,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AVY. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Avery Dennison in the 3rd quarter worth about $32,000. Milestone Investment Advisors LLC bought a new position in shares of Avery Dennison during the third quarter valued at approximately $36,000. Anchor Investment Management LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position 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 in the last quarter. Finally, Adirondack Trust Co. bought a new position in Avery Dennison during the 3rd quarter valued at approximately $55,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

NYSE AVY opened at $221.56 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26. The firm has a market capitalization of $17.85 billion, a P/E ratio of 32.34, a PEG ratio of 3.36 and a beta of 0.91. The company has a 50-day moving average price of $216.39 and a 200-day moving average price of $201.58.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 earnings per share. Equities research analysts anticipate that Avery Dennison Co. will post 9.27 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.52 annualized dividend and a yield of 1.59%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 51.39%.

Analysts Set New Price Targets

A number of research firms have recently commented on AVY. Truist Financial increased their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Citigroup upped their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Robert W. Baird raised their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and issued a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Insiders Place Their Bets

In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction 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 transaction, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The stock was 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 owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at approximately $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 three months. 1.10% of the stock is currently owned by company insiders.

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.