First Trust Advisors LP Acquires 12,612 Shares of Avery Dennison Co. (NYSE:AVY)

First Trust Advisors LP boosted its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 276,713 shares of the industrial products company's stock after buying an additional 12,612 shares during the quarter. First Trust Advisors LP owned approximately 0.34% of Avery Dennison worth $51,781,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AVY. Vanguard Group Inc. grew its position in shares of Avery Dennison by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after acquiring an additional 33,149 shares during the period. Geode Capital Management LLC lifted its stake in Avery Dennison by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after purchasing an additional 13,815 shares during the last quarter. Norges Bank bought a new position in Avery Dennison during the fourth quarter valued at $188,643,000. Boston Partners increased its position in Avery Dennison by 7.7% in the fourth quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock worth $173,385,000 after buying an additional 66,216 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Avery Dennison by 16.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock valued at $151,985,000 after buying an additional 112,650 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $175.21 on Wednesday. Avery Dennison Co. has a twelve month low of $157.00 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 stock has a market cap of $13.76 billion, a P/E ratio of 20.09, a PEG ratio of 2.07 and a beta of 0.85. The business's 50-day moving average price is $177.15 and its two-hundred day moving average price is $190.52.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results 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%. As a group, equities analysts predict that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.01%. Avery Dennison's payout ratio is 40.37%.

Wall Street Analyst Weigh In

AVY has been the subject of several recent research reports. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Truist Financial lowered their price target on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research report on Tuesday. Bank of America cut 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. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Finally, Jefferies Financial Group started coverage on Avery Dennison in a research report on Tuesday. They issued a "hold" rating and a $175.00 price target for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of "Moderate Buy" and a consensus target price of $215.47.

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.

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