Nordea Investment Management AB Raises Stock Position in Avery Dennison Co. (NYSE:AVY)

Nordea Investment Management AB lifted its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 485.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,630 shares of the industrial products company's stock after purchasing an additional 29,541 shares during the period. Nordea Investment Management AB's holdings in Avery Dennison were worth $6,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock valued at $459,621,000 after buying an additional 157,754 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after acquiring an additional 90,250 shares in the last quarter. Meridiem Investment Management Ltd. raised its position in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company's stock worth $175,261,000 after acquiring an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its position in Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company's stock worth $172,254,000 after acquiring an additional 32,467 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company's stock valued at $154,431,000 after purchasing an additional 3,118 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AVY has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday. Barclays reduced their target price on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, October 28th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Truist Financial reduced their price objective on Avery Dennison from $258.00 to $245.00 and set a "buy" rating for the company in a research note on Monday. Finally, UBS Group lowered their target price on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.05.

Avery Dennison Trading Down 1.5 %

Avery Dennison stock traded down $2.88 during midday trading on Friday, hitting $184.83. 431,363 shares of the stock were exchanged, compared to its average volume of 613,744. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock's 50-day simple moving average is $196.62 and its 200 day simple moving average is $208.99. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week high of $233.48. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 EPS. On average, equities analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison's dividend payout ratio is presently 42.26%.

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.