Figure 8 Investment Strategies LLC Purchases Shares of 7,806 Avery Dennison Co. (NYSE:AVY)

Figure 8 Investment Strategies LLC acquired a new position in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, Holdings Channel.com reports. The firm acquired 7,806 shares of the industrial products company’s stock, valued at approximately $1,461,000. Avery Dennison accounts for approximately 1.4% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently modified their holdings of AVY. Geode Capital Management LLC boosted its stake in Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares in the last quarter. Meridiem Investment Management Ltd. grew its holdings in shares of Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after purchasing an additional 5,756 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after purchasing an additional 3,118 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Avery Dennison by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after purchasing an additional 1,782 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Avery Dennison Stock Up 1.0 %

Shares of Avery Dennison stock opened at $183.08 on Friday. Avery Dennison Co. has a 1 year low of $178.72 and a 1 year high of $233.48. The firm has a market cap of $14.71 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.04 and a beta of 0.89. The company has a 50-day moving average of $189.40 and a 200 day moving average of $203.93. 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 (NYSE:AVY) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.92%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Analyst Ratings Changes

Several brokerages have weighed in on AVY. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $210.00 to $205.00 in a report on Friday, January 31st. Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Barclays reduced 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. Finally, Truist Financial reissued a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $227.15.

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.