Mitsubishi UFJ Trust & Banking Corp Has $9.29 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Mitsubishi UFJ Trust & Banking Corp lifted its position in Avery Dennison Co. (NYSE:AVY) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,656 shares of the industrial products company’s stock after purchasing an additional 3,821 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Avery Dennison were worth $9,292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Avery Dennison by 126.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,582 shares of the industrial products company’s stock worth $483,000 after acquiring an additional 1,440 shares during the period. Zions Bancorporation N.A. lifted its stake in Avery Dennison by 51.8% during the fourth quarter. Zions Bancorporation N.A. now owns 4,984 shares of the industrial products company’s stock worth $933,000 after purchasing an additional 1,701 shares during the period. TIAA Trust National Association boosted its holdings in Avery Dennison by 13.0% during the fourth quarter. TIAA Trust National Association now owns 2,580 shares of the industrial products company’s stock valued at $483,000 after purchasing an additional 297 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in shares of Avery Dennison by 0.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 13,991 shares of the industrial products company’s stock valued at $2,618,000 after purchasing an additional 125 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Avery Dennison by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company’s stock worth $1,811,738,000 after buying an additional 33,149 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVY shares. Robert W. Baird set a $220.00 price target on Avery Dennison in a research report on Friday, January 31st. UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. 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. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Finally, Bank of America reduced their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Trading Down 1.3 %

Shares of AVY opened at $175.64 on Friday. The stock’s fifty day simple moving average is $183.29 and its 200-day simple moving average is $196.58. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $13.87 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12-month low of $173.02 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. As a group, research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.84% of the stock is currently owned by company insiders.

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.