Avery Dennison Co. (NYSE:AVY) Holdings Raised by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,656 shares of the industrial products company’s stock after buying an additional 3,821 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Avery Dennison worth $9,292,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVY. Larson Financial Group LLC raised its holdings in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the fourth quarter valued at $37,000. Spire Wealth Management lifted its holdings in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison in the fourth quarter worth $68,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 1.3 %

AVY opened at $175.64 on Friday. The firm has a market cap of $13.87 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The business has a 50 day moving average price of $183.29 and a 200 day moving average price of $196.58. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) 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 forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.00%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVY shares. Bank of America decreased their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Truist Financial reiterated a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

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.