Meiji Yasuda Asset Management Co Ltd. Buys 1,440 Shares of Avery Dennison Co. (NYSE:AVY)

Meiji Yasuda Asset Management Co Ltd. grew its stake in Avery Dennison Co. (NYSE:AVY) by 126.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,582 shares of the industrial products company’s stock after acquiring an additional 1,440 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Avery Dennison were worth $483,000 at the end of the most recent reporting period.

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

Avery Dennison Trading Up 0.1 %

Avery Dennison stock opened at $178.16 on Friday. 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 market cap of $14.07 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock has a 50-day moving average of $183.59 and a two-hundred day moving average of $197.04. Avery Dennison Co. has a one year low of $173.02 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. 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 1.98%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Insider Activity at Avery Dennison

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVY shares. 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 research report on Friday, January 31st. 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. BMO Capital Markets set a $226.00 price target on Avery Dennison in a report on Monday, February 3rd. Truist Financial restated a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Three 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 a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

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.