Mn Services Vermogensbeheer B.V. Purchases 700 Shares of Avery Dennison Co. (NYSE:AVY)

Mn Services Vermogensbeheer B.V. boosted its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,500 shares of the industrial products company’s stock after purchasing an additional 700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Avery Dennison were worth $5,895,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. New York Life Investment Management LLC lifted its holdings in Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock valued at $2,055,000 after purchasing an additional 61 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Avery Dennison by 52.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 46,150 shares of the industrial products company’s stock valued at $8,636,000 after purchasing an additional 15,834 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Avery Dennison by 21.4% during the 4th 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 purchasing an additional 134,560 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Avery Dennison by 18.3% during the 4th quarter. Rothschild Investment LLC now owns 440 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 68 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Avery Dennison during the 4th quarter valued at about $1,652,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Trading Up 1.4 %

AVY opened at $188.07 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market cap of $15.11 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The firm has a 50 day simple moving average of $186.69 and a 200 day simple moving average of $201.83. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week 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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.87%. Avery Dennison’s dividend payout ratio is 40.37%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVY. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.