30,150 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Beck Bode LLC

Beck Bode LLC bought a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 30,150 shares of the industrial products company's stock, valued at approximately $5,642,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Avery Dennison by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after acquiring an additional 33,149 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Avery Dennison by 3.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock valued at $790,683,000 after purchasing an additional 150,572 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Avery Dennison by 12.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after purchasing an additional 250,359 shares during the period. Geode Capital Management LLC raised its holdings in Avery Dennison by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock worth $392,445,000 after purchasing an additional 13,815 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Avery Dennison by 17.9% during the fourth quarter. Northern Trust Corp now owns 1,106,083 shares of the industrial products company's stock valued at $206,981,000 after buying an additional 168,311 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm'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 transaction, the chairman now owns 303,331 shares of the company's stock, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVY. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. Jefferies Financial Group assumed coverage on Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target on the stock. Raymond James lowered their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets cut their target price on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Truist Financial dropped their price target on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison has an average rating of "Moderate Buy" and an average price target of $206.60.

Avery Dennison Stock Performance

AVY traded down $0.39 during mid-day trading on Friday, reaching $172.63. 145,854 shares of the company traded hands, compared to its average volume of 793,523. The company's fifty day moving average price is $173.95 and its 200-day moving average price is $186.93. The stock has a market capitalization of $13.50 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.07 and a beta of 0.88. 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 52-week low of $157.00 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, June 4th. Avery Dennison's dividend payout ratio is currently 43.32%.

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.