Nomura Holdings Inc. Invests $496,000 in Avery Dennison Co. (NYSE:AVY)

Nomura Holdings Inc. acquired a new position in shares of Avery Dennison Co. (NYSE:AVY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,650 shares of the industrial products company’s stock, valued at approximately $496,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AVY. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Spire Wealth Management boosted its position 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 worth $56,000 after buying an additional 130 shares during the period. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $68,000. Assetmark Inc. raised its holdings in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Avery Dennison by 49.8% during the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 136 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

NYSE AVY opened at $180.15 on Thursday. The stock has a market capitalization of $14.08 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The business’s fifty day moving average is $173.99 and its two-hundred day moving average is $185.31. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last posted its quarterly 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 company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Avery Dennison’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 EPS. On average, research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.94 per share. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, June 4th. Avery Dennison’s payout ratio is 43.32%.

Insider Buying and Selling at Avery Dennison

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

Analysts Set New Price Targets

Several equities research analysts recently commented on AVY shares. Argus cut Avery Dennison from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Truist Financial dropped their target price on Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets dropped their target price on Avery Dennison from $226.00 to $216.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. UBS Group dropped their target price on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, Barclays dropped their target price on Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.60.

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.