KBC Group NV Acquires 2,844 Shares of Avery Dennison Co. (NYSE:AVY)

KBC Group NV raised its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,228 shares of the industrial products company's stock after purchasing an additional 2,844 shares during the quarter. KBC Group NV's holdings in Avery Dennison were worth $3,411,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Avery Dennison by 7.1% during the fourth quarter. Blue Trust Inc. now owns 2,752 shares of the industrial products company's stock worth $515,000 after buying an additional 182 shares during the last quarter. Running Oak Capital LLC increased its stake in shares of Avery Dennison by 13.5% during the 4th quarter. Running Oak Capital LLC now owns 63,830 shares of the industrial products company's stock worth $11,945,000 after purchasing an additional 7,572 shares during the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of Avery Dennison in the 4th quarter valued at about $347,000. Monte Financial Group LLC lifted its stake in Avery Dennison by 2.7% in the 4th quarter. Monte Financial Group LLC now owns 5,680 shares of the industrial products company's stock valued at $1,063,000 after purchasing an additional 150 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in Avery Dennison by 8.5% during the fourth quarter. Fifth Third Bancorp now owns 3,242 shares of the industrial products company's stock worth $607,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE AVY traded down $0.60 during midday trading on Tuesday, reaching $182.75. The company's stock had a trading volume of 725,855 shares, compared to its average volume of 789,807. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market cap of $14.68 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.37 and a beta of 0.89. The business's 50 day moving average price is $192.72 and its two-hundred day moving average price is $205.59. Avery Dennison Co. has a fifty-two week low of $179.20 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, analysts forecast that Avery Dennison Co. will post 10.03 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's payout ratio is presently 40.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVY. BMO Capital Markets cut their price objective on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Truist Financial reiterated a "buy" rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday. Bank of America cut their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Raymond James reiterated an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday. Three equities 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.15.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company's stock, 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 is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.