Asset Management One Co. Ltd. Sells 7,119 Shares of Avery Dennison Co. (NYSE:AVY)

Asset Management One Co. Ltd. cut its stake in Avery Dennison Co. (NYSE:AVY) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,724 shares of the industrial products company’s stock after selling 7,119 shares during the quarter. Asset Management One Co. Ltd. owned 0.14% of Avery Dennison worth $23,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. New York Life Investment Management LLC grew its stake in shares of Avery Dennison by 0.5% in the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after acquiring an additional 58 shares during the period. Signaturefd LLC boosted its holdings in shares of Avery Dennison by 25.5% in the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $55,000 after buying an additional 61 shares during the last quarter. Advisor Partners II LLC boosted its holdings in shares of Avery Dennison by 1.9% in the third quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock worth $610,000 after buying an additional 63 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Avery Dennison by 0.5% in the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock worth $2,215,000 after buying an additional 65 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Avery Dennison by 56.3% in the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock worth $34,000 after buying an additional 72 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, 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 transaction of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, 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 transaction of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock worth $4,217,705 over the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Citigroup raised their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group raised their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average target price of $221.00.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $218.11 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $225.26. The company has a market capitalization of $17.56 billion, a P/E ratio of 35.12, a P/E/G ratio of 3.41 and a beta of 0.90. The firm’s 50 day simple moving average is $212.42 and its two-hundred day simple moving average is $197.14.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting the consensus estimate of $2.16. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Research analysts expect that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s payout ratio is currently 52.17%.

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.