UniSuper Management Pty Ltd Raises Stake in Avery Dennison Co. (NYSE:AVY)

UniSuper Management Pty Ltd increased its stake in Avery Dennison Co. (NYSE:AVY) by 30.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,184 shares of the industrial products company’s stock after buying an additional 2,582 shares during the period. UniSuper Management Pty Ltd’s holdings in Avery Dennison were worth $2,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. Greenleaf Trust increased its position in shares of Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc grew its stake in Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in Avery Dennison by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock worth $2,220,000 after purchasing an additional 58 shares during the period. RMR Wealth Builders raised its position in Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in shares of Avery Dennison by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock worth $2,055,000 after buying an additional 61 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Down 1.3 %

Avery Dennison stock opened at $175.64 on Monday. Avery Dennison Co. has a 1-year low of $173.02 and a 1-year high of $233.48. The business has a fifty day moving average price of $183.29 and a 200-day moving average price of $196.43. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last issued 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%. Equities research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVY. Barclays cut their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Truist Financial reissued 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. Finally, Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.51.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.84% of the company’s stock.

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.