Van ECK Associates Corp Grows Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Van ECK Associates Corp grew its holdings in Avery Dennison Co. (NYSE:AVY) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,521 shares of the industrial products company’s stock after acquiring an additional 1,302 shares during the period. Van ECK Associates Corp’s holdings in Avery Dennison were worth $2,717,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AVY. Geode Capital Management LLC boosted its holdings in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of 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 valued at $312,772,000 after acquiring an additional 90,250 shares during the last quarter. World Investment Advisors LLC lifted its stake in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after purchasing an additional 88,491 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Avery Dennison by 135.6% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock valued at $27,476,000 after purchasing an additional 84,501 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after purchasing an additional 46,390 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $184.38 on Friday. The firm has a 50-day simple moving average of $187.22 and a 200-day simple moving average of $202.71. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) 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 predict that Avery Dennison Co. will post 9.97 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is currently 40.37%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group decreased their target price on shares of 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 reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets decreased their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $227.15.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

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.