Aware Super Pty Ltd as trustee of Aware Super Makes New $8.31 Million Investment in Avery Dennison Co. (NYSE:AVY)

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 44,394 shares of the industrial products company's stock, valued at approximately $8,307,000. Aware Super Pty Ltd as trustee of Aware Super owned approximately 0.06% of Avery Dennison as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock worth $6,715,000 after acquiring an additional 29,541 shares during the last quarter. Meyer Handelman Co. bought a new position in shares of Avery Dennison during the fourth quarter valued at $4,263,000. JPMorgan Chase & Co. increased its holdings in Avery Dennison by 12.4% in the 3rd 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 in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Avery Dennison during the 4th quarter valued at about $218,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Avery Dennison during the 4th quarter valued at about $203,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now directly owns 316,300 shares of the company's stock, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company's stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $2.83 during trading hours on Friday, hitting $170.98. The company's stock had a trading volume of 625,563 shares, compared to its average volume of 584,824. The business has a 50 day moving average price of $177.54 and a two-hundred day moving average price of $190.94. 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 12-month low of $157.00 and a 12-month high of $233.48. The company has a market cap of $13.43 billion, a PE ratio of 19.61, a PEG ratio of 2.07 and a beta of 0.85.

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%. Analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analysts Forecast Growth

AVY has been the subject of several research reports. Bank of America decreased their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial restated a "buy" rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $220.87.

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.