Tower Research Capital LLC TRC Has $1.04 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Tower Research Capital LLC TRC raised its position in Avery Dennison Co. (NYSE:AVY) by 45.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,572 shares of the industrial products company’s stock after purchasing an additional 1,753 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Avery Dennison were worth $1,043,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirova boosted its holdings in shares of Avery Dennison by 606.0% in the 4th quarter. Mirova now owns 14,162 shares of the industrial products company’s stock worth $2,650,000 after acquiring an additional 12,156 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Avery Dennison by 1.3% during the fourth quarter. MetLife Investment Management LLC now owns 22,591 shares of the industrial products company’s stock worth $4,227,000 after purchasing an additional 289 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Avery Dennison by 15.8% in the fourth quarter. Norinchukin Bank The now owns 4,157 shares of the industrial products company’s stock valued at $778,000 after buying an additional 568 shares during the last quarter. Ossiam lifted its position in Avery Dennison by 29.6% during the 4th quarter. Ossiam now owns 19,148 shares of the industrial products company’s stock worth $3,583,000 after buying an additional 4,374 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Avery Dennison during the 4th quarter worth about $24,967,000. 94.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group started coverage on Avery Dennison in a report on Tuesday. They set a “hold” rating and a $175.00 price objective on the stock. Raymond James lowered their target price on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating for the company in a research note on Tuesday. Barclays cut their price target on Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Robert W. Baird lowered their price objective on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.63.

Avery Dennison Trading Up 2.0 %

AVY opened at $173.62 on Friday. The firm’s fifty day moving average is $176.76 and its two-hundred day moving average is $190.10. The firm has a market cap of $13.63 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Equities research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 dividend on an annualized basis and a yield of 2.03%. Avery Dennison’s payout ratio is 40.37%.

Insiders Place Their Bets

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

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.