44,394 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 44,394 shares of the industrial products company’s stock, valued at approximately $8,307,000.

Several other large investors also recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in Avery Dennison by 485.2% during 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 during the last quarter. Meyer Handelman Co. bought a new position in shares of Avery Dennison in the fourth quarter valued at $4,263,000. JPMorgan Chase & Co. lifted its position in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth $218,000. Finally, Merit Financial Group LLC acquired a new position in shares of Avery Dennison in the 4th quarter worth $203,000. Institutional investors own 94.17% of the company’s stock.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by insiders.

Avery Dennison Trading Up 1.6 %

Shares of NYSE:AVY opened at $172.35 on Tuesday. The firm has a fifty day moving average of $178.39 and a two-hundred day moving average of $192.27. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The firm has a market capitalization of $13.61 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities analysts expect 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. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.04%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AVY shares. Barclays reduced their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group dropped their target price on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Raymond James restated 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. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $210.00 to $205.00 in a research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $220.87.

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.