Avery Dennison Co. (NYSE:AVY) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 97,875 shares of the industrial products company's stock after selling 14,356 shares during the period. Impax Asset Management Group plc owned approximately 0.12% of Avery Dennison worth $18,315,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC boosted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank acquired a new position in Avery Dennison in the 3rd quarter valued at about $36,000. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the 3rd quarter worth approximately $39,000. Finally, Spire Wealth Management raised its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVY has been the subject of several analyst reports. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Raymond James reiterated an "outperform" rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $222.51.

Avery Dennison Trading Up 0.1 %

NYSE AVY opened at $184.55 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.07 and a beta of 0.89. The firm has a 50 day simple moving average of $187.01 and a 200-day simple moving average of $202.56. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS 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%. Equities research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

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.

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