Sumitomo Mitsui Trust Group Inc. Raises Stake in Avery Dennison Co. (NYSE:AVY)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 184,244 shares of the industrial products company's stock after buying an additional 7,237 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Avery Dennison worth $34,478,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock worth $459,621,000 after acquiring an additional 157,754 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after buying an additional 90,250 shares during the last quarter. World Investment Advisors LLC boosted its holdings in shares of Avery Dennison by 2,629.0% in the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company's stock worth $20,278,000 after buying an additional 88,491 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock worth $92,771,000 after buying an additional 46,390 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Avery Dennison by 72.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company's stock worth $21,389,000 after buying an additional 40,824 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded down $1.12 on Friday, hitting $181.76. 526,618 shares of the company traded hands, compared to its average volume of 796,954. The stock has a market capitalization of $14.60 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. 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 Co. has a 52 week low of $178.72 and a 52 week high of $233.48. The business has a 50-day simple moving average of $188.58 and a 200 day simple moving average of $203.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. Research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.94%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction 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 transaction, 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 at this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Raymond James reissued an "outperform" rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup dropped their price objective 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 downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Bank of America lowered their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, UBS Group lowered their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus price target of $227.15.

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.