Metis Global Partners LLC Acquires 298 Shares of Avery Dennison Co. (NYSE:AVY)

Metis Global Partners LLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,609 shares of the industrial products company’s stock after acquiring an additional 298 shares during the quarter. Metis Global Partners LLC’s holdings in Avery Dennison were worth $1,424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Empirical Finance LLC grew its position in shares of Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after purchasing an additional 55 shares in the last quarter. Greenleaf Trust grew its position in shares of Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 57 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Lindenwold Advisors INC grew its position in Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after acquiring an additional 59 shares in the last quarter. Finally, Cynosure Group LLC grew its position in Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $185.75 on Tuesday. The company has a market capitalization of $14.67 billion, a PE ratio of 21.30, a P/E/G ratio of 2.07 and a beta of 0.89. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a 50 day moving average price of $186.63 and a 200-day moving average price of $201.59.

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 analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.90%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Analyst Ratings Changes

AVY has been the subject of several recent research reports. UBS Group dropped their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $222.51.

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.