Daiwa Securities Group Inc. Raises Stake in Avery Dennison Co. (NYSE:AVY)

Daiwa Securities Group Inc. grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,615 shares of the industrial products company’s stock after purchasing an additional 701 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Avery Dennison were worth $1,986,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the fourth quarter valued at $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the third quarter valued at $39,000. Spire Wealth Management boosted 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 valued at $56,000 after purchasing an additional 130 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Avery Dennison in the third quarter worth about $66,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

AVY stock opened at $178.91 on Friday. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.07 and a beta of 0.85. The firm has a 50-day simple moving average of $185.49 and a two-hundred day simple moving average of $199.64. Avery Dennison Co. has a one year low of $174.91 and a one year 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.

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

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders 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 annualized dividend and a dividend yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVY. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup lowered their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. 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 currently has an average 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.