Nuveen Asset Management LLC Has $79.74 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Nuveen Asset Management LLC boosted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 426,136 shares of the industrial products company's stock after buying an additional 5,950 shares during the period. Nuveen Asset Management LLC owned approximately 0.53% of Avery Dennison worth $79,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC acquired a new stake in Avery Dennison during the 4th quarter valued at approximately $218,000. Merit Financial Group LLC acquired a new stake in shares of Avery Dennison in the 4th quarter valued at about $203,000. Running Oak Capital LLC boosted its holdings in shares of Avery Dennison by 13.5% during the fourth quarter. Running Oak Capital LLC now owns 63,830 shares of the industrial products company's stock worth $11,945,000 after acquiring an additional 7,572 shares during the period. AdvisorNet Financial Inc lifted 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 acquiring an additional 58 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Avery Dennison during the 4th quarter worth about $11,396,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on Thursday, March 6th. The shares were 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 directly owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. The trade was a 4.10% decrease in their position. 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 corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AVY. Truist Financial lowered their price target on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Jefferies Financial Group initiated coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective on the stock. Finally, BMO Capital Markets decreased their target price on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $206.60.

Avery Dennison Stock Down 2.1%

Shares of NYSE AVY traded down $3.82 during mid-day trading on Wednesday, reaching $180.15. The company had a trading volume of 518,375 shares, compared to its average volume of 609,225. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock's 50 day moving average is $173.97 and its 200-day moving average is $185.35. The stock has a market capitalization of $14.08 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the company posted $2.29 earnings per share. The firm's quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts anticipate 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. The ex-dividend date is Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.09%. Avery Dennison's payout ratio is 43.32%.

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.