Nissay Asset Management Corp Japan ADV Purchases 114 Shares of Avery Dennison Co. (NYSE:AVY)

Nissay Asset Management Corp Japan ADV grew its position in Avery Dennison Co. (NYSE:AVY) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,822 shares of the industrial products company’s stock after acquiring an additional 114 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Avery Dennison were worth $1,852,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in shares of Avery Dennison in the fourth quarter valued at approximately $496,000. NorthRock Partners LLC raised its position in Avery Dennison by 18.2% in the 4th quarter. NorthRock Partners LLC now owns 1,266 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 195 shares during the last quarter. Nuveen Asset Management LLC raised its position in Avery Dennison by 1.4% in the 4th quarter. Nuveen Asset Management LLC now owns 426,136 shares of the industrial products company’s stock worth $79,743,000 after purchasing an additional 5,950 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in Avery Dennison by 20.5% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 3,369 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 572 shares during the last quarter. Finally, Occudo Quantitative Strategies LP raised its position in Avery Dennison by 115.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 10,512 shares of the industrial products company’s stock worth $1,967,000 after purchasing an additional 5,630 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVY. Truist Financial dropped their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Barclays dropped their price objective on shares of Avery Dennison from $225.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Argus cut shares of Avery Dennison from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. Finally, UBS Group dropped their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.60.

Avery Dennison Price Performance

AVY opened at $183.27 on Friday. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48. The firm has a market capitalization of $14.33 billion, a PE ratio of 21.02, a P/E/G ratio of 2.07 and a beta of 0.88. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a fifty day moving average price of $173.68 and a two-hundred day moving average price of $185.67.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the firm earned $2.29 EPS. Avery Dennison’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.94 dividend. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 annualized dividend and a dividend yield of 2.05%. Avery Dennison’s payout ratio is 43.32%.

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.