Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,164 shares of the industrial products company’s stock after acquiring an additional 1,762 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Avery Dennison were worth $6,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Anchor Investment Management LLC purchased a new stake in shares of Avery Dennison during the fourth quarter worth $42,000. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the fourth quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Avery Dennison by 250.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock valued at $81,000 after buying an additional 288 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in Avery Dennison by 47.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 415 shares of the industrial products company’s stock valued at $84,000 after buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $213.00 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The company has a market cap of $17.16 billion, a P/E ratio of 31.09, a PEG ratio of 1.99 and a beta of 0.88. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $231.53. The company has a 50-day moving average price of $224.21 and a 200 day moving average price of $214.29.

Avery Dennison (NYSE:AVYGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Research analysts predict that Avery Dennison Co. will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insider Activity

In other news, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the sale, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan D. Yost sold 149 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the transaction, the insider now directly owns 2,110 shares of the company’s stock, valued at $477,661.80. The disclosure for this sale can be found here. In the last three months, insiders sold 12,583 shares of company stock worth $2,856,353. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. UBS Group dropped their price objective on Avery Dennison from $260.00 to $252.00 and set a “buy” rating on the stock in a report on Tuesday. Argus raised their price objective on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Finally, Raymond James reaffirmed an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.15.

View Our Latest Stock Analysis on Avery Dennison

About Avery Dennison

(Free Report)

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.

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