Metis Global Partners LLC Boosts Stake in Avery Dennison Co. (NYSE:AVY)

Metis Global Partners LLC grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,609 shares of the industrial products company’s stock after purchasing an additional 298 shares during the quarter. Metis Global Partners LLC’s holdings in Avery Dennison were worth $1,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Avery Dennison by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after purchasing an additional 134,560 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after purchasing an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Avery Dennison by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock valued at $151,975,000 after purchasing an additional 1,782 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 AVY opened at $185.75 on Tuesday. The business’s 50-day moving average is $186.63 and its two-hundred day moving average is $201.59. The company has a market capitalization of $14.67 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Wall Street Analyst Weigh In

Several analysts have recently commented on AVY shares. Raymond James reiterated an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Finally, UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $222.51.

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.