Asset Management One Co. Ltd. Reduces Holdings in Avery Dennison Co. (NYSE:AVY)

Asset Management One Co. Ltd. trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,191 shares of the industrial products company's stock after selling 10,749 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.10% of Avery Dennison worth $14,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empirical Finance LLC increased its position in Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company's stock valued at $623,000 after acquiring an additional 55 shares during the period. Greenleaf Trust increased its position in Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc increased its position in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 58 shares during the period. Lindenwold Advisors INC increased its position in Avery Dennison by 0.6% in the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company's stock valued at $2,266,000 after acquiring an additional 59 shares during the period. Finally, Cynosure Group LLC increased its position in shares of Avery Dennison by 3.6% during the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company's stock worth $378,000 after buying an additional 59 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on AVY shares. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Truist Financial reiterated a "buy" rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group decreased their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $227.15.

Avery Dennison Trading Up 0.8 %

NYSE:AVY traded up $1.40 during midday trading on Thursday, reaching $184.38. 700,036 shares of the stock traded hands, compared to its average volume of 753,986. The company has a fifty day moving average of $187.49 and a 200 day moving average of $202.83. Avery Dennison Co. has a 12 month low of $178.72 and a 12 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. The stock has a market capitalization of $14.81 billion, a P/E ratio of 21.14, a PEG ratio of 2.06 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, research analysts predict that Avery Dennison Co. will post 9.97 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed 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. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's payout ratio is currently 40.37%.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% 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.