Norges Bank Buys New Shares in Avery Dennison Corporation $AVY

Norges Bank purchased a new position in shares of Avery Dennison Corporation (NYSE:AVY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 994,046 shares of the industrial products company’s stock, valued at approximately $174,425,000.

Other institutional investors have also recently modified their holdings of the company. Bayforest Capital Ltd purchased a new position in shares of Avery Dennison during the 1st quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Avery Dennison by 193.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 170 shares of the industrial products company’s stock worth $30,000 after buying an additional 112 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in Avery Dennison by 89.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 80 shares during the last quarter. NewSquare Capital LLC raised its stake in shares of Avery Dennison by 156.2% during the second quarter. NewSquare Capital LLC now owns 187 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 114 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Avery Dennison in the 2nd quarter worth approximately $35,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Up 0.0%

Shares of NYSE:AVY opened at $172.44 on Tuesday. The stock’s 50-day moving average is $168.55 and its 200 day moving average is $172.84. The company has a market cap of $13.33 billion, a PE ratio of 19.62, a P/E/G ratio of 2.39 and a beta of 0.99. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.26 and a quick ratio of 0.89. Avery Dennison Corporation has a 1 year low of $156.23 and a 1 year high of $206.76.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.05. Avery Dennison had a return on equity of 33.67% and a net margin of 7.93%.The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the business posted $2.33 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Avery Dennison has set its Q4 2025 guidance at 2.350-2.450 EPS. Sell-side analysts anticipate that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 3rd. Avery Dennison’s payout ratio is presently 42.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group upgraded shares of Avery Dennison from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $181.00 to $218.00 in a research report on Thursday, October 23rd. Truist Financial reduced their price objective on Avery Dennison from $204.00 to $203.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets reissued an “outperform” rating and issued a $210.00 target price on shares of Avery Dennison in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and increased their target price for the company from $182.00 to $195.00 in a report on Thursday, October 23rd. Finally, Argus set a $200.00 price target on Avery Dennison in a research report on Tuesday, October 28th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.55.

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.