Mirae Asset Global Investments Co. Ltd. Decreases Stake in Avery Dennison Co. (NYSE:AVY)

Mirae Asset Global Investments Co. Ltd. decreased its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,641 shares of the industrial products company's stock after selling 2,279 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Avery Dennison were worth $2,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clarius Group LLC purchased a new stake in Avery Dennison during the third quarter valued at $201,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Avery Dennison by 255.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 950 shares of the industrial products company's stock worth $210,000 after buying an additional 683 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Avery Dennison by 18.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,771 shares of the industrial products company's stock valued at $832,000 after acquiring an additional 591 shares during the last quarter. Paladin Wealth LLC purchased a new position in Avery Dennison in the third quarter worth about $504,000. Finally, Procyon Advisors LLC increased its stake in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock worth $319,000 after acquiring an additional 56 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Up 1.0 %

Shares of Avery Dennison stock traded up $1.89 on Thursday, hitting $183.08. 512,883 shares of the company traded hands, compared to its average volume of 776,117. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company has a market cap of $14.71 billion, a PE ratio of 20.99, a PEG ratio of 2.04 and a beta of 0.89. The stock's 50 day moving average price is $189.40 and its 200-day moving average price is $203.93. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48.

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 for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's payout ratio is 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 dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVY. BMO Capital Markets lowered their price objective on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Barclays dropped 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 note on Monday, February 3rd. UBS Group reduced their target price on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Truist Financial reaffirmed a "buy" rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Citigroup reduced their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.15.

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.