Bank of Montreal Can Sells 5,523 Shares of Avery Dennison Co. (NYSE:AVY)

Bank of Montreal Can cut its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 249,419 shares of the industrial products company's stock after selling 5,523 shares during the quarter. Bank of Montreal Can owned approximately 0.31% of Avery Dennison worth $46,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVY. Janus Henderson Group PLC grew its position in Avery Dennison by 3.4% in the 3rd quarter. Janus Henderson Group PLC now owns 9,133 shares of the industrial products company's stock worth $2,016,000 after purchasing an additional 300 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Avery Dennison in the third quarter valued at about $451,000. EP Wealth Advisors LLC boosted its holdings in shares of Avery Dennison by 286.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 4,381 shares of the industrial products company's stock worth $967,000 after acquiring an additional 3,247 shares in the last quarter. XTX Topco Ltd raised its position in Avery Dennison by 73.9% in the 3rd quarter. XTX Topco Ltd now owns 3,385 shares of the industrial products company's stock valued at $747,000 after purchasing an additional 1,438 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in Avery Dennison by 4.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,500 shares of the industrial products company's stock worth $1,656,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

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Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction on Thursday, March 6th. The stock was 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 directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

Avery Dennison stock traded up $2.81 during trading hours on Friday, hitting $169.39. The company had a trading volume of 1,090,810 shares, compared to its average volume of 577,832. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The firm has a 50-day moving average of $178.64 and a 200 day moving average of $192.82. 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 firm has a market cap of $13.38 billion, a PE ratio of 19.43, a PEG ratio of 2.07 and a beta of 0.85.

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 net margin of 8.05% and a return on equity of 33.06%. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is presently 40.37%.

Analysts Set New Price Targets

Several research firms have issued reports on AVY. UBS Group reduced their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Raymond James reaffirmed an "outperform" rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a 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, Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $220.87.

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.