Avery Dennison Co. (NYSE:AVY) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB boosted its stake in Avery Dennison Co. (NYSE:AVYFree Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,902 shares of the industrial products company’s stock after purchasing an additional 268 shares during the period. Nordea Investment Management AB’s holdings in Avery Dennison were worth $1,196,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clear Street Markets LLC increased its holdings in Avery Dennison by 92.7% in the 1st quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Avery Dennison in the 3rd quarter valued at about $32,000. Milestone Investment Advisors LLC purchased a new position in Avery Dennison in the 3rd quarter valued at about $36,000. IFP Advisors Inc boosted its position in Avery Dennison by 56.3% in the 2nd quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in Avery Dennison in the 2nd quarter valued at about $33,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on AVY. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and increased their price target for the stock from $197.00 to $214.00 in a research report on Wednesday, January 3rd. Truist Financial reaffirmed a “buy” rating and set a $249.00 price target on shares of Avery Dennison in a research report on Friday, January 19th. Finally, Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.78.

View Our Latest Analysis on AVY

Insider Buying and Selling

In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the transaction, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $217.31 on Tuesday. The firm’s 50 day moving average is $208.50 and its two-hundred day moving average is $194.84. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $219.76. The firm has a market capitalization of $17.50 billion, a P/E ratio of 34.99, a PEG ratio of 3.32 and a beta of 0.90. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVYGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the business earned $1.65 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts anticipate that Avery Dennison Co. will post 9.28 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is 52.17%.

About Avery Dennison

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.