23,884 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,884 shares of the industrial products company's stock, valued at approximately $4,474,000.

Several other hedge funds have also recently bought and sold shares of the company. Regents Gate Capital LLP bought a new position in Avery Dennison in the fourth quarter valued at approximately $37,000. Spire Wealth Management increased its stake in shares of Avery Dennison by 76.0% in the 4th 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 during the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison during the 4th quarter worth $68,000. AdvisorNet Financial Inc lifted its position in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after buying an additional 58 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after buying an additional 73 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company'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 sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.84% of the company's stock.

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Avery Dennison Trading Up 1.0 %

Shares of AVY stock traded up $1.74 on Monday, hitting $171.42. The company had a trading volume of 118,659 shares, compared to its average volume of 576,536. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. 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 firm has a market cap of $13.54 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.07 and a beta of 0.85. The stock's 50-day moving average is $178.64 and its two-hundred day moving average is $192.62.

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, equities research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.05%. Avery Dennison's payout ratio is 40.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVY. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Barclays decreased their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Raymond James reiterated an "outperform" rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have issued 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 target price of $220.87.

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.