Rhumbline Advisers Has $29.77 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Rhumbline Advisers decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 159,107 shares of the industrial products company's stock after selling 2,609 shares during the period. Rhumbline Advisers owned approximately 0.20% of Avery Dennison worth $29,774,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Larson Financial Group LLC increased its position in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison in the 3rd quarter valued at $36,000. Regents Gate Capital LLP purchased a new position in Avery Dennison in the fourth quarter valued at about $37,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the third quarter valued at about $39,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock worth $56,000 after purchasing an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Performance

AVY traded up $0.07 on Friday, hitting $184.34. 672,244 shares of the company's stock were exchanged, compared to its average volume of 750,908. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock has a fifty day moving average of $187.22 and a two-hundred day moving average of $202.71. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The firm has a market cap of $14.81 billion, a PE ratio of 21.14, a P/E/G ratio of 2.05 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last released 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%. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVY. Raymond James reiterated an "outperform" rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays dropped their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Truist Financial restated a "buy" rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group dropped their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Finally, Citigroup cut their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Three investment 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.15.

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.