Avery Dennison Co. (NYSE:AVY) Holdings Lifted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,609 shares of the industrial products company’s stock after buying an additional 2,720 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.12% of Avery Dennison worth $18,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AVY. Nordea Investment Management AB grew its stake in Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after purchasing an additional 29,541 shares in the last quarter. Victory Capital Management Inc. grew its stake in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares in the last quarter. Icon Wealth Advisors LLC grew its stake in Avery Dennison by 553.5% in the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 2,657 shares in the last quarter. Meyer Handelman Co. purchased a new position in Avery Dennison in the fourth quarter valued at about $4,263,000. Finally, JPMorgan Chase & Co. grew its stake in Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $210.00 to $205.00 in a research note on Friday. BMO Capital Markets reduced their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday. Bank of America cut 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. Finally, Raymond James reissued an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.96.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 1.8 %

Avery Dennison stock opened at $185.85 on Friday. The business has a 50 day moving average price of $193.54 and a two-hundred day moving average price of $206.34. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. Avery Dennison Co. has a 12 month low of $179.20 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results 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 7.76% and a return on equity of 33.01%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.89%. Avery Dennison’s dividend payout ratio is currently 42.26%.

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.