Sompo Asset Management Co. Ltd. Has $2.80 Million Position in Avery Dennison Co. (NYSE:AVY)

Sompo Asset Management Co. Ltd. reduced its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,944 shares of the industrial products company's stock after selling 1,708 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in Avery Dennison were worth $2,796,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter valued at approximately $37,000. Spire Wealth Management grew its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the 4th quarter worth $68,000. AdvisorNet Financial Inc lifted its position in Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVY. Jefferies Financial Group began coverage on Avery Dennison in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Robert W. Baird decreased their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday. Citigroup cut their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Raymond James decreased their target price 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. Finally, Bank of America decreased their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $209.80.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares of the company's stock, valued at approximately $58,891,897. The trade was a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Trading Down 0.9 %

Shares of AVY stock traded down $1.56 on Monday, reaching $169.19. The company had a trading volume of 345,059 shares, compared to its average volume of 592,486. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48. 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 stock has a market cap of $13.29 billion, a PE ratio of 19.41, a PEG ratio of 2.07 and a beta of 0.85. The company has a 50-day moving average of $176.49 and a 200-day moving average of $189.44.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 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 business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business posted $2.29 EPS. The business's quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.22%. Avery Dennison's payout ratio is currently 43.32%.

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.