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Empowered Funds LLC Invests $2.38 Million in Avery Dennison Co. (NYSE:AVY)

Avery Dennison logo with Industrial Products background

Empowered Funds LLC purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,715 shares of the industrial products company's stock, valued at approximately $2,379,000.

A number of other large investors have also added to or reduced their stakes in AVY. Sumitomo Mitsui Trust Group Inc. grew its holdings in Avery Dennison by 4.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,244 shares of the industrial products company's stock worth $34,478,000 after acquiring an additional 7,237 shares in the last quarter. Choreo LLC grew its holdings in Avery Dennison by 50.2% during the 4th quarter. Choreo LLC now owns 12,195 shares of the industrial products company's stock worth $2,283,000 after acquiring an additional 4,077 shares in the last quarter. Tectonic Advisors LLC grew its holdings in Avery Dennison by 16.8% during the 4th quarter. Tectonic Advisors LLC now owns 2,272 shares of the industrial products company's stock worth $425,000 after acquiring an additional 326 shares in the last quarter. Boston Trust Walden Corp grew its holdings in Avery Dennison by 7.5% during the 4th quarter. Boston Trust Walden Corp now owns 290,508 shares of the industrial products company's stock worth $54,363,000 after acquiring an additional 20,192 shares in the last quarter. Finally, JB Capital LLC grew its holdings in Avery Dennison by 5.0% during the 4th quarter. JB Capital LLC now owns 15,947 shares of the industrial products company's stock worth $2,984,000 after acquiring an additional 756 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on AVY shares. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Raymond James restated an "outperform" rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $227.15.

Read Our Latest Stock Analysis on Avery Dennison

Avery Dennison Stock Performance

NYSE:AVY traded up $1.35 during mid-day trading on Tuesday, hitting $182.96. The stock had a trading volume of 79,211 shares, compared to its average volume of 745,369. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.04 and a beta of 0.89. The company has a 50 day simple moving average of $188.14 and a 200-day simple moving average of $203.16. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.92%. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Insiders Place Their Bets

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 transaction of $757,874.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Avery Dennison Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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