Nomura Holdings Inc. Makes New $330,000 Investment in Avery Dennison Co. (NYSE:AVY)

Nomura Holdings Inc. purchased a new position in shares of Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,632 shares of the industrial products company’s stock, valued at approximately $330,000.

A number of other large investors also recently modified their holdings of AVY. Cerity Partners LLC lifted its holdings in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares in the last quarter. Norges Bank bought a new position in shares of Avery Dennison in the 4th quarter worth $185,292,000. Morgan Stanley lifted its holdings in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after purchasing an additional 639,521 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Avery Dennison by 1,429.4% in the 4th quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock worth $53,107,000 after purchasing an additional 245,520 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Up 0.4 %

Shares of Avery Dennison stock opened at $226.94 on Friday. Avery Dennison Co. has a 1 year low of $163.83 and a 1 year high of $230.43. The firm has a market cap of $18.28 billion, a PE ratio of 33.13, a P/E/G ratio of 2.08 and a beta of 0.91. The stock has a fifty day moving average price of $222.76 and a 200-day moving average price of $212.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.14. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Equities research analysts anticipate that Avery Dennison Co. will post 9.32 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $3.52 annualized dividend and a yield of 1.55%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James restated an “outperform” rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Argus raised their price objective on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Truist Financial raised their price objective on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $230.50.

Insider Buying and Selling

In related news, insider Ryan D. Yost sold 149 shares of Avery Dennison stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the sale, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 149 shares of Avery Dennison stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the completion of the transaction, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Lovins sold 2,894 shares of Avery Dennison stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the transaction, the chief financial officer now directly owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,583 shares of company stock valued at $2,856,353. 1.10% of the stock is owned by insiders.

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.