Gateway Investment Advisers LLC Has $13.90 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Gateway Investment Advisers LLC raised its position in Avery Dennison Co. (NYSE:AVY) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 74,252 shares of the industrial products company’s stock after buying an additional 10,334 shares during the period. Gateway Investment Advisers LLC’s holdings in Avery Dennison were worth $13,895,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares during the period. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $39,000. Raleigh Capital Management Inc. lifted its stake in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Avery Dennison in the 3rd quarter worth $66,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Trading Up 0.4 %

Shares of NYSE:AVY opened at $191.04 on Friday. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.29 and a beta of 0.89. Avery Dennison Co. has a 12 month low of $181.99 and a 12 month high of $233.48. The company’s fifty day simple moving average is $195.36 and its 200 day simple moving average is $208.06. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. As a group, research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AVY shares. UBS Group cut their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays cut their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BMO Capital Markets lowered their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Truist Financial reduced their price target on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $235.05.

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.