Prudential Financial Inc. Reduces Stock Position in Avery Dennison Co. (NYSE:AVY)

Prudential Financial Inc. lessened its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 56.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,879 shares of the industrial products company's stock after selling 87,295 shares during the quarter. Prudential Financial Inc. owned 0.08% of Avery Dennison worth $13,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock valued at $6,715,000 after acquiring an additional 29,541 shares during the last quarter. Meyer Handelman Co. acquired a new position in Avery Dennison during the 4th quarter worth $4,263,000. JPMorgan Chase & Co. increased its holdings in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. Unigestion Holding SA bought a new position in Avery Dennison in the third quarter worth about $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Avery Dennison during the fourth quarter valued at $218,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Trading Up 0.6 %

Shares of NYSE:AVY traded up $1.11 during mid-day trading on Monday, hitting $176.88. The company had a trading volume of 256,993 shares, compared to its average volume of 540,473. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market capitalization of $13.97 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm has a fifty day moving average price of $183.29 and a 200 day moving average price of $196.43. Avery Dennison Co. has a one year low of $173.02 and a one year high of $233.48.

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Avery Dennison (NYSE:AVY - Get Free Report) last issued its 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 net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.99%. Avery Dennison's payout ratio is 40.37%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AVY shares. Bank of America cut their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup decreased their target price on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.