Versor Investments LP Purchases 2,112 Shares of Avery Dennison Co. (NYSE:AVY)

Versor Investments LP grew its stake in Avery Dennison Co. (NYSE:AVY) by 65.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,350 shares of the industrial products company’s stock after purchasing an additional 2,112 shares during the quarter. Versor Investments LP’s holdings in Avery Dennison were worth $1,001,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Larson Financial Group LLC grew its stake in shares of Avery Dennison by 100.0% in the third 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 in the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison during the third quarter worth about $36,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison during the third quarter worth about $39,000. Regents Gate Capital LLP acquired a new stake in Avery Dennison during the fourth quarter worth about $37,000. Finally, Brooklyn Investment Group acquired a new stake in Avery Dennison during the third quarter worth about $66,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

NYSE:AVY opened at $185.33 on Friday. The company has a fifty day moving average of $186.69 and a 200-day moving average of $202.01. The firm has a market capitalization of $14.89 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.07 and a beta of 0.89. 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 Co. has a twelve month low of $178.72 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.90%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Analysts Set New Price Targets

AVY has been the topic of a number of analyst reports. Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Barclays dropped their price objective 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $222.51.

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.