1,008,084 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Norges Bank

Norges Bank acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,008,084 shares of the industrial products company's stock, valued at approximately $188,643,000. Norges Bank owned 1.25% of Avery Dennison at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AVY. Larson Financial Group LLC increased its holdings in Avery Dennison by 100.0% in the 3rd 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 acquired a new stake in shares of Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management increased its stake in Avery Dennison by 76.0% in 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 period. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison in the fourth quarter worth about $68,000. Finally, AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after purchasing an additional 58 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison 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 owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.84% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AVY shares. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. UBS Group cut their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, Bank of America cut their price target 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Avery Dennison has an average rating of "Moderate Buy" and an average target price of $222.51.

Avery Dennison Price Performance

Shares of AVY stock traded down $6.04 during trading hours on Friday, reaching $170.30. 1,781,064 shares of the company were exchanged, compared to its average volume of 552,196. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock's fifty day moving average is $181.82 and its two-hundred day moving average is $195.27. Avery Dennison Co. has a fifty-two week low of $166.64 and a fifty-two week high of $233.48. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85.

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 return on equity of 33.06% and a net margin of 8.05%. Sell-side analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.07%. Avery Dennison's dividend payout ratio is currently 40.37%.

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.