Cumberland Partners Ltd Decreases Stake in Avery Dennison Co. (NYSE:AVY)

Cumberland Partners Ltd trimmed its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 92.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,265 shares of the industrial products company's stock after selling 27,789 shares during the period. Cumberland Partners Ltd's holdings in Avery Dennison were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its stake in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank bought a new stake in shares of Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the third quarter valued at about $39,000. Regents Gate Capital LLP bought a new position in Avery Dennison during the 4th quarter worth about $37,000. Finally, Raleigh Capital Management Inc. grew its holdings in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock worth $56,000 after acquiring an additional 238 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded up $0.07 on Friday, reaching $184.34. 672,244 shares of the stock were exchanged, compared to its average volume of 751,584. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The business has a 50 day moving average price of $187.22 and a two-hundred day moving average price of $202.71. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.05 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AVY shares. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Barclays cut their price target on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. UBS Group decreased their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Finally, Raymond James restated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $227.15.

Insider Buying and Selling at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company's stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

About Avery Dennison

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.