Gateway Investment Advisers LLC Has $13.90 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Gateway Investment Advisers LLC grew its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 74,252 shares of the industrial products company's stock after buying an additional 10,334 shares during the quarter. Gateway Investment Advisers LLC owned approximately 0.09% of Avery Dennison worth $13,895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC grew its position in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison during the third quarter valued at about $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison during the third quarter worth about $39,000. Raleigh Capital Management Inc. increased its stake in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock valued at $56,000 after buying an additional 238 shares during the period. Finally, Brooklyn Investment Group bought a new position in Avery Dennison in the 3rd quarter valued at approximately $66,000. Institutional investors own 94.17% of the company's stock.

Insider Activity

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

Avery Dennison Trading Down 0.1 %

Shares of NYSE:AVY traded down $0.17 during midday trading on Friday, reaching $191.07. The company's stock had a trading volume of 623,810 shares, compared to its average volume of 581,337. The firm has a 50 day moving average price of $195.36 and a two-hundred day moving average price of $208.06. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.10 EPS. As a group, analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.84%. The ex-dividend date was Wednesday, December 4th. Avery Dennison's dividend payout ratio (DPR) is currently 42.26%.

Analyst Upgrades and Downgrades

AVY has been the topic of a number of research reports. Citigroup reduced their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Truist Financial lowered their target price on Avery Dennison from $258.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, January 6th. UBS Group reduced their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Finally, Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.05.

About Avery Dennison

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.