Avery Dennison Co. (NYSE:AVY) Shares Bought by Boston Partners

Boston Partners boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 926,506 shares of the industrial products company’s stock after acquiring an additional 66,216 shares during the quarter. Boston Partners owned about 1.15% of Avery Dennison worth $173,385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVY. Raymond James Financial Inc. acquired a new stake in shares of Avery Dennison in the fourth quarter valued at $51,521,000. Geode Capital Management LLC grew its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after buying an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Avery Dennison by 21.4% in the fourth 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 buying an additional 134,560 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Avery Dennison by 411.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after buying an additional 99,232 shares in the last quarter. Finally, World Investment Advisors LLC grew its stake in shares of Avery Dennison by 2,629.0% in the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after buying an additional 88,491 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.1 %

AVY opened at $179.85 on Wednesday. The business has a 50 day moving average price of $185.19 and a two-hundred day moving average price of $198.81. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company has a market cap of $14.20 billion, a PE ratio of 20.62, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 52 week low of $174.91 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $222.51.

About Avery Dennison

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.