Mitsubishi UFJ Asset Management Co. Ltd. Has $24.47 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 16.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,180 shares of the industrial products company's stock after purchasing an additional 18,235 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Avery Dennison worth $24,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in Avery Dennison in the 4th quarter valued at $51,521,000. Geode Capital Management LLC boosted its stake in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock valued at $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock worth $143,078,000 after purchasing an additional 134,560 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Avery Dennison by 411.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company's stock worth $23,084,000 after purchasing an additional 99,232 shares in the last quarter. Finally, World Investment Advisors LLC lifted its holdings in Avery Dennison by 2,629.0% during the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company's stock valued at $20,278,000 after purchasing an additional 88,491 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have weighed in on AVY shares. Bank of America decreased their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James restated an "outperform" rating and set a $208.00 price target (down from $218.00) on shares of 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 cut their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. Finally, Barclays cut their price target on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average price target of $222.51.

Avery Dennison Trading Down 3.4 %

AVY stock traded down $6.04 during midday trading on Friday, reaching $170.30. The stock had a trading volume of 1,781,064 shares, compared to its average volume of 552,196. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $166.64 and a twelve month high of $233.48. 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 simple moving average of $181.82 and a two-hundred day simple moving average of $195.27.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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%. As a group, research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.07%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares of the company's stock, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.