Ossiam Grows Stake in Avery Dennison Co. (NYSE:AVY)

Ossiam raised its stake in shares of Avery Dennison Co. (NYSE:AVY) by 29.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,148 shares of the industrial products company’s stock after acquiring an additional 4,374 shares during the period. Ossiam’s holdings in Avery Dennison were worth $3,583,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AVY. Regents Gate Capital LLP bought a new position in shares of Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management increased its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 58 shares during the last quarter. VisionPoint Advisory Group LLC bought a new stake in Avery Dennison in the fourth quarter worth $68,000. Finally, Assetmark Inc. lifted its position in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company’s stock.

Avery Dennison Stock Performance

AVY stock opened at $170.98 on Friday. 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 Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The business has a 50-day moving average price of $177.54 and a 200 day moving average price of $191.09. The company has a market capitalization of $13.43 billion, a P/E ratio of 19.61, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly 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%. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.06%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

AVY has been the subject of a number of analyst reports. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Truist Financial restated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. 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 report on Monday, January 6th. Finally, Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $220.87.

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.