Nissay Asset Management Corp Japan ADV Has $1.85 Million Stake in Avery Dennison Co. (NYSE:AVY)

Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,822 shares of the industrial products company’s stock after buying an additional 114 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Avery Dennison were worth $1,852,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter worth $37,000. Spire Wealth Management increased its position in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the fourth quarter worth $68,000. AdvisorNet Financial Inc increased its position in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Up 0.8%

AVY stock opened at $183.27 on Friday. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a market cap of $14.33 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. The business’s 50-day simple moving average is $173.68 and its 200 day simple moving average is $185.67. 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 released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 earnings per share. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.05%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, June 4th. Avery Dennison’s payout ratio is presently 43.32%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BMO Capital Markets lowered their price target on Avery Dennison from $226.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. Truist Financial lowered their price target on Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird lowered their price target on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James lowered their price target on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.60.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

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.