Ossiam Acquires 4,374 Shares of Avery Dennison Co. (NYSE:AVY)

Ossiam raised its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 29.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,148 shares of the industrial products company's stock after acquiring an additional 4,374 shares during the period. Ossiam's holdings in Avery Dennison were worth $3,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Regents Gate Capital LLP purchased a new stake in Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management increased 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 purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison during the fourth quarter valued at $68,000. AdvisorNet Financial Inc boosted its holdings in Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares of the company's stock, valued at $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $3.37 during mid-day trading on Thursday, reaching $173.62. 1,241,465 shares of the company traded hands, compared to its average volume of 594,004. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48. The firm has a market cap of $13.63 billion, a PE ratio of 19.91, a PEG ratio of 2.07 and a beta of 0.85. The company's 50 day moving average price is $176.92 and its 200-day moving average price is $190.38.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.03%. Avery Dennison's dividend payout ratio is currently 40.37%.

Wall Street Analyst Weigh In

AVY has been the topic of several analyst reports. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Truist Financial lowered their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Robert W. Baird dropped their price target on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Barclays reduced their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.63.

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.