Avery Dennison Co. (NYSE:AVY) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,656 shares of the industrial products company's stock after purchasing an additional 3,821 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Avery Dennison worth $9,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. grew its stake in Avery Dennison by 126.1% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,582 shares of the industrial products company's stock worth $483,000 after acquiring an additional 1,440 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Avery Dennison by 51.8% during the 4th quarter. Zions Bancorporation N.A. now owns 4,984 shares of the industrial products company's stock worth $933,000 after purchasing an additional 1,701 shares during the period. TIAA Trust National Association grew its position in shares of Avery Dennison by 13.0% during the 4th quarter. TIAA Trust National Association now owns 2,580 shares of the industrial products company's stock worth $483,000 after buying an additional 297 shares in the last quarter. Congress Wealth Management LLC DE increased its stake in shares of Avery Dennison by 0.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 13,991 shares of the industrial products company's stock valued at $2,618,000 after buying an additional 125 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Avery Dennison by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after acquiring an additional 33,149 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

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Avery Dennison Stock Performance

Shares of AVY traded up $2.28 during trading hours on Monday, reaching $178.05. 716,426 shares of the company traded hands, compared to its average volume of 542,225. The stock has a market capitalization of $14.06 billion, a P/E ratio of 20.42, a P/E/G 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. The business has a fifty day moving average price of $183.29 and a 200-day moving average price of $196.43. Avery Dennison Co. has a 12-month low of $173.02 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James restated an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded 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 note on Friday, January 31st. Barclays reduced their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through 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.