KLP Kapitalforvaltning AS Invests $5.18 Million in Avery Dennison Co. (NYSE:AVY)

KLP Kapitalforvaltning AS acquired a new position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,659 shares of the industrial products company's stock, valued at approximately $5,176,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AVY. Larson Financial Group LLC increased its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after buying an additional 71 shares during the period. Regents Gate Capital LLP bought a new stake in Avery Dennison during the 4th quarter worth approximately $37,000. Brooklyn Investment Group acquired a new position in Avery Dennison in the 3rd quarter valued at approximately $66,000. Spire Wealth Management raised its stake in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 130 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Stock Down 1.3 %

NYSE:AVY traded down $2.35 during trading hours on Friday, reaching $175.64. The company had a trading volume of 350,687 shares, compared to its average volume of 541,528. The business's 50-day simple moving average is $183.29 and its two-hundred day simple moving average is $196.58. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

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Avery Dennison (NYSE:AVY - Get Free Report) last issued its 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 net margin of 8.05% and a return on equity of 33.06%. On average, equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.00%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Analyst Ratings Changes

Several research analysts recently issued reports on AVY shares. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. UBS Group decreased their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Truist Financial reaffirmed 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. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $222.51.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company's stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.