Russell Investments Group Ltd. Has $12.32 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Russell Investments Group Ltd. trimmed its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,819 shares of the industrial products company's stock after selling 3,254 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of Avery Dennison worth $12,317,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Avery Dennison by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock worth $1,811,738,000 after acquiring an additional 33,149 shares in the last quarter. Geode Capital Management LLC increased its stake in Avery Dennison by 0.7% during the 4th 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. Norges Bank acquired a new stake in Avery Dennison during the 4th quarter worth approximately $188,643,000. Boston Partners lifted its stake in Avery Dennison by 7.7% in the fourth quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock valued at $173,385,000 after buying an additional 66,216 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Avery Dennison by 16.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock valued at $151,985,000 after buying an additional 112,650 shares during the period. Institutional investors own 94.17% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Raymond James reiterated an "outperform" rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.87.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction that occurred 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 transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded up $0.82 on Wednesday, hitting $170.32. The stock had a trading volume of 102,548 shares, compared to its average volume of 784,283. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The business's 50 day moving average is $178.15 and its two-hundred day moving average is $192.11. 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 twelve month low of $157.00 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is presently 40.37%.

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.