Avery Dennison Co. (NYSE:AVY) Shares Bought by TIAA Trust National Association

TIAA Trust National Association grew its holdings in Avery Dennison Co. (NYSE:AVY) by 13.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,580 shares of the industrial products company’s stock after buying an additional 297 shares during the quarter. TIAA Trust National Association’s holdings in Avery Dennison were worth $483,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AVY. Larson Financial Group LLC grew its stake in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the fourth quarter worth about $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 worth $56,000 after buying an additional 130 shares during the period. Brooklyn Investment Group acquired a new stake in Avery Dennison in the third quarter valued at approximately $66,000. Finally, VisionPoint Advisory Group LLC purchased a new position in Avery Dennison in the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares in the company, valued at $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

NYSE AVY opened at $178.16 on Friday. The business’s 50-day moving average price is $183.59 and its 200 day moving average price is $197.04. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market cap of $14.07 billion, a P/E ratio of 20.43, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 52-week low of $173.02 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research report on Monday, February 3rd. Truist Financial reissued a “buy” rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays decreased their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Bank of America decreased their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison 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.