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

TIAA Trust National Association boosted its stake in Avery Dennison Co. (NYSE:AVY) by 13.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,580 shares of the industrial products company’s stock after acquiring 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 filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its position in shares of Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock valued at $6,715,000 after acquiring an additional 29,541 shares in the last quarter. Meyer Handelman Co. purchased a new position in Avery Dennison in the 4th quarter valued at $4,263,000. JPMorgan Chase & Co. boosted its stake in Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of Avery Dennison during the third quarter worth $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $218,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AVY shares. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. 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. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Performance

NYSE AVY opened at $178.16 on Friday. The stock has a market cap of $14.07 billion, a PE ratio of 20.43, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48. The stock has a fifty day simple moving average of $183.59 and a 200-day simple moving average of $197.04. 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 (NYSE:AVY) last announced 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%. Equities analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given 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 payout ratio is 40.37%.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction on 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 owns 303,331 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.84% of the stock is owned by insiders.

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.