Achmea Investment Management B.V. Reduces Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Achmea Investment Management B.V. decreased its position in Avery Dennison Co. (NYSE:AVY) by 85.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,437 shares of the industrial products company’s stock after selling 39,020 shares during the period. Achmea Investment Management B.V.’s holdings in Avery Dennison were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of AVY. Apollon Wealth Management LLC lifted its position in shares of Avery Dennison by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock worth $272,000 after acquiring an additional 83 shares in the last quarter. Huntington National Bank lifted its position in shares of Avery Dennison by 3.1% during the third quarter. Huntington National Bank now owns 3,331 shares of the industrial products company’s stock worth $735,000 after acquiring an additional 99 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of Avery Dennison by 76.2% during the third quarter. Zions Bancorporation N.A. now owns 3,283 shares of the industrial products company’s stock worth $725,000 after acquiring an additional 1,420 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Avery Dennison by 21.6% during the third quarter. Metis Global Partners LLC now owns 7,311 shares of the industrial products company’s stock worth $1,614,000 after acquiring an additional 1,297 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in shares of Avery Dennison during the third quarter worth $207,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Up 1.7 %

AVY opened at $178.91 on Friday. The business’s fifty day simple moving average is $185.49 and its 200 day simple moving average is $199.52. Avery Dennison Co. has a 52 week low of $174.91 and a 52 week high of $233.48. The stock has a market cap of $14.13 billion, a PE ratio of 20.52, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts expect that Avery Dennison Co. will post 9.96 earnings per share 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 paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Wall Street Analyst Weigh In

AVY has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America decreased their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the 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 completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.