Nomura Asset Management Co. Ltd. Has $4.84 Million Stake in Avery Dennison Co. (NYSE:AVY)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,855 shares of the industrial products company’s stock after purchasing an additional 319 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Avery Dennison were worth $4,838,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVY shares. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Barclays lowered their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $215.00 target price (down previously from $245.00) 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 issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

Avery Dennison Stock Up 1.0 %

Avery Dennison stock opened at $179.78 on Wednesday. The firm has a 50 day moving average price of $182.77 and a 200-day moving average price of $195.86. 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 $173.02 and a twelve month high of $233.48. The company has a market capitalization of $14.20 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced 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, equities analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.96%. Avery Dennison’s payout ratio is 40.37%.

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.