Mitsubishi UFJ Asset Management Co. Ltd. Has $24.47 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Avery Dennison Co. (NYSE:AVY) by 16.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,180 shares of the industrial products company’s stock after buying an additional 18,235 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Avery Dennison were worth $24,465,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Avery Dennison during the 4th quarter worth approximately $51,521,000. Geode Capital Management LLC boosted its position in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after buying an additional 134,560 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Avery Dennison by 411.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after buying an additional 99,232 shares during the period. Finally, World Investment Advisors LLC lifted its stake in 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 worth $20,278,000 after acquiring an additional 88,491 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.84% of the company’s stock.

Avery Dennison Price Performance

NYSE AVY opened at $175.64 on Monday. The firm has a market cap of $13.87 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock’s 50-day moving average is $183.29 and its two-hundred day moving average is $196.43. Avery Dennison Co. has a fifty-two week low of $173.02 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last posted its 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, analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.00%. Avery Dennison’s payout ratio is presently 40.37%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $222.51.

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.