KLP Kapitalforvaltning AS Takes $5.18 Million Position in Avery Dennison Co. (NYSE:AVY)

KLP Kapitalforvaltning AS purchased a new position in Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,659 shares of the industrial products company’s stock, valued at approximately $5,176,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC increased its position in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Regents Gate Capital LLP bought a new position in Avery Dennison in the fourth quarter worth approximately $37,000. Spire Wealth Management increased its holdings in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares during the period. Brooklyn Investment Group bought a new stake in Avery Dennison during the 3rd quarter valued at $66,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the 4th quarter worth $68,000. Institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by insiders.

Avery Dennison Trading Down 0.9 %

Avery Dennison stock opened at $175.38 on Wednesday. Avery Dennison Co. has a one year low of $173.02 and a one year high of $233.48. The stock has a market cap of $13.85 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a 50-day moving average of $184.10 and a two-hundred day moving average of $197.31.

Avery Dennison (NYSE:AVY) last released its 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%. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird set a $220.00 price target on Avery Dennison in a research note on Friday, January 31st. Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Truist Financial reissued a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Bank of America dropped their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Company 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.