Korea Investment CORP Grows Position in Avery Dennison Co. (NYSE:AVY)

Korea Investment CORP boosted its stake in Avery Dennison Co. (NYSE:AVY) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,974 shares of the industrial products company’s stock after buying an additional 10,140 shares during the period. Korea Investment CORP owned approximately 0.12% of Avery Dennison worth $17,585,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AVY. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Regents Gate Capital LLP acquired a new stake in Avery Dennison in the 4th quarter valued at approximately $37,000. Spire Wealth Management raised its position in Avery Dennison by 76.0% in 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. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the fourth quarter worth $68,000. Finally, AdvisorNet Financial Inc boosted 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 worth $69,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Ratings Changes

AVY has been the topic of several research analyst reports. Barclays cut their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Down 1.3 %

Avery Dennison stock opened at $175.64 on Friday. The stock’s fifty day moving average is $183.29 and its two-hundred day moving average is $196.58. The stock has a market cap of $13.87 billion, a PE ratio of 20.14, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 1-year low of $173.02 and a 1-year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last issued 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%. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Insider Activity at Avery Dennison

In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is owned by corporate insiders.

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.