Andra AP fonden Acquires 23,100 Shares of Avery Dennison Co. (NYSE:AVY)

Andra AP fonden lifted its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 41.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,400 shares of the industrial products company's stock after acquiring an additional 23,100 shares during the period. Andra AP fonden owned approximately 0.10% of Avery Dennison worth $14,858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in Avery Dennison by 11.0% in the third quarter. Van ECK Associates Corp now owns 13,219 shares of the industrial products company's stock valued at $2,745,000 after purchasing an additional 1,310 shares in the last quarter. National Pension Service increased its stake in Avery Dennison by 3.0% during the 3rd quarter. National Pension Service now owns 123,371 shares of the industrial products company's stock valued at $27,235,000 after purchasing an additional 3,590 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Avery Dennison by 1.8% in the third quarter. QRG Capital Management Inc. now owns 5,243 shares of the industrial products company's stock valued at $1,157,000 after buying an additional 92 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Avery Dennison by 12.0% during the third quarter. Concurrent Investment Advisors LLC now owns 5,506 shares of the industrial products company's stock valued at $1,216,000 after buying an additional 591 shares during the last quarter. Finally, Advisor Resource Council bought a new stake in shares of Avery Dennison during the third quarter worth about $317,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

AVY has been the subject of a number of recent research reports. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. UBS Group cut their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Raymond James reissued an "outperform" rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. BMO Capital Markets set a $226.00 target price on Avery Dennison in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $210.00 to $205.00 in a report 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $222.51.

Avery Dennison Stock Performance

AVY traded down $2.91 during trading hours on Wednesday, hitting $177.24. The stock had a trading volume of 542,540 shares, compared to its average volume of 505,526. The stock has a market cap of $14.00 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 1 year low of $175.85 and a 1 year high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The company's fifty day simple moving average is $185.97 and its 200 day simple moving average is $200.24.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.99%. Avery Dennison's payout ratio is 40.37%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated 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. This represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently 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.