Homestead Advisers Corp Decreases Holdings in Avery Dennison Co. (NYSE:AVY)

Homestead Advisers Corp cut its position in Avery Dennison Co. (NYSE:AVY) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 424,658 shares of the industrial products company’s stock after selling 14,600 shares during the quarter. Avery Dennison accounts for 1.9% of Homestead Advisers Corp’s portfolio, making the stock its 21st largest position. Homestead Advisers Corp owned 0.53% of Avery Dennison worth $79,466,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AVY. UniSuper Management Pty Ltd boosted its stake in Avery Dennison by 30.0% in the fourth quarter. UniSuper Management Pty Ltd now owns 11,184 shares of the industrial products company’s stock valued at $2,093,000 after acquiring an additional 2,582 shares during the period. JPMorgan Chase & Co. boosted its holdings in Avery Dennison by 6.3% during the fourth quarter. JPMorgan Chase & Co. now owns 446,530 shares of the industrial products company’s stock worth $83,559,000 after buying an additional 26,298 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Avery Dennison by 16.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132,180 shares of the industrial products company’s stock worth $24,465,000 after acquiring an additional 18,235 shares during the last quarter. Korea Investment CORP lifted its stake in Avery Dennison by 12.1% during the fourth quarter. Korea Investment CORP now owns 93,974 shares of the industrial products company’s stock valued at $17,585,000 after buying an additional 10,140 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Avery Dennison during the 4th quarter worth approximately $374,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. 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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. UBS Group cut their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Truist Financial reissued a “buy” rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Trading Up 1.3 %

Shares of AVY stock opened at $178.04 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 1-year low of $173.02 and a 1-year high of $233.48. The stock has a 50-day moving average of $183.85 and a 200-day moving average of $197.18. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last posted 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 net margin of 8.05% and a return on equity of 33.06%. On average, equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

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.