Short Interest in Avery Dennison Co. (NYSE:AVY) Expands By 7.0%

Avery Dennison Co. (NYSE:AVY - Get Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,980,000 shares, an increase of 7.0% from the December 31st total of 1,850,000 shares. Based on an average daily trading volume, of 542,600 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.5% of the company's shares are short sold.

Avery Dennison Stock Performance

Avery Dennison stock traded down $2.58 during trading hours on Friday, hitting $179.10. The company had a trading volume of 675,442 shares, compared to its average volume of 794,594. Avery Dennison has a one year low of $178.72 and a one year high of $233.48. The firm has a market cap of $14.39 billion, a PE ratio of 20.54, a PEG ratio of 1.37 and a beta of 0.89. The firm has a 50-day moving average of $191.39 and a 200 day moving average of $205.02. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results 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%. On average, sell-side analysts expect that Avery Dennison will post 10.03 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.97%. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Analyst Ratings Changes

Several equities research analysts have commented on AVY shares. StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. UBS Group dropped 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. 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 note on Monday, January 6th. BMO Capital Markets dropped their price target on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Barclays decreased their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Avery Dennison has an average rating of "Moderate Buy" and a consensus price target of $227.15.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm'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 transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently bought and sold shares of AVY. AQR Capital Management LLC increased its holdings in shares of Avery Dennison by 25.1% during the second quarter. AQR Capital Management LLC now owns 14,058 shares of the industrial products company's stock worth $3,074,000 after purchasing an additional 2,819 shares during the period. Millennium Management LLC increased its stake in Avery Dennison by 10.6% during the 2nd quarter. Millennium Management LLC now owns 68,885 shares of the industrial products company's stock worth $15,062,000 after acquiring an additional 6,627 shares during the period. EP Wealth Advisors LLC raised its holdings in Avery Dennison by 21.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,134 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 201 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Avery Dennison during the 2nd quarter valued at $2,710,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Avery Dennison during the 2nd quarter worth $2,165,000. Institutional investors and hedge funds own 94.17% of the company's stock.

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.