Russell Investments Group Ltd. Has $17.10 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Russell Investments Group Ltd. grew its holdings in Avery Dennison Co. (NYSE:AVY) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,553 shares of the industrial products company’s stock after buying an additional 4,969 shares during the period. Russell Investments Group Ltd. owned 0.10% of Avery Dennison worth $17,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Avery Dennison by 22.7% during the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after buying an additional 493,857 shares in the last quarter. Morgan Stanley grew its holdings in shares of Avery Dennison by 55.7% during the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after purchasing an additional 639,521 shares in the last quarter. Cerity Partners LLC increased its position in shares of Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares during the period. Truist Financial Corp raised its stake in Avery Dennison by 5.5% in the third quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock valued at $200,302,000 after purchasing an additional 57,106 shares in the last quarter. Finally, Boston Partners lifted its position in Avery Dennison by 43.9% during the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after purchasing an additional 307,325 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. UBS Group boosted their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, Truist Financial boosted their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Avery Dennison Price Performance

Avery Dennison stock opened at $221.56 on Friday. The stock has a 50-day moving average price of $216.39 and a two-hundred day moving average price of $201.58. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a market capitalization of $17.85 billion, a PE ratio of 32.34, a P/E/G ratio of 3.36 and a beta of 0.91.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts’ consensus estimates of $2.16. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Avery Dennison’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. Analysts expect that Avery Dennison Co. will post 9.27 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.88 dividend. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison’s payout ratio is currently 51.39%.

Insider Activity at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 over the last ninety days. Insiders own 1.10% 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.