ING Groep NV Has $3.32 Million Position in Avery Dennison Co. (NYSE:AVY)

ING Groep NV decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 40.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,762 shares of the industrial products company's stock after selling 12,107 shares during the period. ING Groep NV's holdings in Avery Dennison were worth $3,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVY. Venturi Wealth Management LLC boosted its position in Avery Dennison by 32.4% during the 4th quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company's stock worth $841,000 after acquiring an additional 1,100 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Avery Dennison by 3.5% during the 4th quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company's stock valued at $3,022,000 after purchasing an additional 553 shares in the last quarter. Allworth Financial LP raised its holdings in Avery Dennison by 127.6% during the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company's stock valued at $373,000 after buying an additional 1,097 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth about $1,461,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Avery Dennison by 11.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock valued at $268,000 after acquiring an additional 150 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVY. Raymond James reiterated an "outperform" rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays lowered their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Truist Financial restated a "buy" rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Up 0.6 %

NYSE AVY traded up $1.20 during trading on Tuesday, hitting $185.74. The stock had a trading volume of 87,784 shares, compared to its average volume of 728,057. 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 company's 50-day moving average price is $187.01 and its two-hundred day moving average price is $202.56. The company has a market capitalization of $14.92 billion, a PE ratio of 21.36, a P/E/G ratio of 2.07 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last issued 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%. As a group, sell-side analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio is currently 40.37%.

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.