Avery Dennison Co. (NYSE:AVY) Shares Acquired by Cramer Rosenthal Mcglynn LLC

Cramer Rosenthal Mcglynn LLC grew its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,918 shares of the industrial products company's stock after purchasing an additional 5,753 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.13% of Avery Dennison worth $19,820,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Nordea Investment Management AB raised its position in Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock worth $6,715,000 after acquiring an additional 29,541 shares in the last quarter. Meyer Handelman Co. acquired a new position in shares of Avery Dennison during the 4th quarter worth $4,263,000. JPMorgan Chase & Co. lifted its stake in shares of Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after purchasing an additional 46,390 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at about $218,000. Finally, Merit Financial Group LLC purchased a new stake in Avery Dennison during the fourth quarter worth about $203,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AVY. Citigroup reduced 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. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Raymond James decreased their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Bank of America lowered their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $215.47.

Avery Dennison Trading Down 2.1 %

NYSE AVY traded down $3.67 during trading hours on Wednesday, hitting $171.16. 806,391 shares of the company's stock were exchanged, compared to its average volume of 589,318. The business's 50 day moving average is $177.15 and its 200-day moving average is $190.52. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The firm has a market capitalization of $13.44 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.03). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.06%. Avery Dennison's payout ratio is 40.37%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.84% of the company's stock.

Avery Dennison 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.