Ossiam Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

Ossiam lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 29.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,148 shares of the industrial products company’s stock after buying an additional 4,374 shares during the quarter. Ossiam’s holdings in Avery Dennison were worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Avery Dennison in the 4th quarter worth approximately $188,643,000. Raymond James Financial Inc. bought a new position in Avery Dennison in the fourth quarter worth $51,521,000. Capital World Investors purchased a new position in Avery Dennison during the fourth quarter valued at $40,354,000. Bank of New York Mellon Corp boosted its holdings in shares of 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 buying an additional 134,560 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Avery Dennison in the 4th quarter worth about $24,967,000. 94.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $170.98 on Friday. The firm’s 50-day moving average price is $177.54 and its 200-day moving average price is $191.09. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a market cap of $13.43 billion, a PE ratio of 19.61, a PEG ratio of 2.07 and a beta of 0.85. 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 (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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%. As a group, analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.06%. Avery Dennison’s payout ratio is 40.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVY. UBS Group dropped their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial reissued 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, Robert W. Baird set a $220.00 price target on Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.87.

Avery Dennison 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.