Dimensional Fund Advisors LP Acquires 43,270 Shares of Avery Dennison Co. (NYSE:AVY)

Dimensional Fund Advisors LP increased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 860,802 shares of the industrial products company's stock after acquiring an additional 43,270 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.07% of Avery Dennison worth $161,085,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison during the 4th quarter valued at approximately $37,000. Spire Wealth Management grew its holdings in Avery Dennison by 76.0% during 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 in the last quarter. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth about $68,000. AdvisorNet Financial Inc raised its stake in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. lifted 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 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 related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by insiders.

Avery Dennison Price Performance

NYSE:AVY traded down $0.66 during mid-day trading on Wednesday, reaching $171.06. 766,117 shares of the stock were exchanged, compared to its average volume of 596,797. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The business has a fifty day moving average price of $175.73 and a 200 day moving average price of $188.86. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The firm has a market capitalization of $13.43 billion, a PE ratio of 19.62, a PEG ratio of 2.07 and a beta of 0.85.

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). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the prior year, the company posted $2.29 earnings per share. Avery Dennison's quarterly revenue was down .1% compared to the same quarter last year. Research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.94 dividend. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.20%. Avery Dennison's dividend payout ratio is currently 43.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVY. Truist Financial lowered their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James dropped their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group decreased their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Bank of America decreased their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Jefferies Financial Group initiated coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $209.80.

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.