Avery Dennison Co. (NYSE:AVY) Stake Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Avery Dennison Co. (NYSE:AVY) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,180 shares of the industrial products company’s stock after acquiring an additional 18,235 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Avery Dennison worth $24,465,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVY. Greenleaf Trust lifted 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 worth $253,000 after purchasing an additional 57 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 58 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after acquiring an additional 58 shares during the last quarter. RMR Wealth Builders raised its position in shares of Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its stake in Avery Dennison by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock worth $2,055,000 after purchasing an additional 61 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on AVY shares. UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Finally, Barclays lowered their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. The trade was a 2.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.84% of the stock is owned by insiders.

Avery Dennison Price Performance

Shares of AVY opened at $175.64 on Monday. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock’s fifty day moving average is $183.29 and its 200-day moving average is $196.43. Avery Dennison Co. has a one year low of $173.02 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 released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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%. Equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

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

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.