Quantbot Technologies LP Invests $577,000 in Avery Dennison Co. (NYSE:AVY)

Quantbot Technologies LP acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,081 shares of the industrial products company's stock, valued at approximately $577,000.

A number of other large investors also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Avery Dennison during the 4th quarter valued at $51,521,000. Geode Capital Management LLC increased its position in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock worth $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Avery Dennison by 21.4% during the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock worth $143,078,000 after purchasing an additional 134,560 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Avery Dennison by 411.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company's stock valued at $23,084,000 after buying an additional 99,232 shares during the last quarter. Finally, World Investment Advisors LLC raised its position in Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company's stock valued at $20,278,000 after acquiring an additional 88,491 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Remove Ads

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares of the company's stock, valued at $55,160,742.35. The trade was 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 link. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $1.81 on Tuesday, hitting $179.78. 502,675 shares of the company were exchanged, compared to its average volume of 543,208. Avery Dennison Co. has a one year low of $173.02 and a one year high of $233.48. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.07 and a beta of 0.85. The company's 50 day moving average price is $182.77 and its two-hundred day moving average price is $195.86. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. Research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is currently 40.37%.

Wall Street Analyst Weigh In

AVY has been the topic of several analyst reports. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. UBS Group cut their price objective 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. BMO Capital Markets set a $226.00 target price on Avery Dennison in a research report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $222.51.

Avery Dennison Company 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.