Invesco Ltd. Sells 197,568 Shares of Avery Dennison Co. (NYSE:AVY)

Invesco Ltd. lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,439,791 shares of the industrial products company's stock after selling 197,568 shares during the quarter. Invesco Ltd. owned approximately 1.79% of Avery Dennison worth $269,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenleaf Trust raised its stake in Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc raised its position in shares of Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Avery Dennison by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock worth $2,220,000 after buying an additional 58 shares during the last quarter. RMR Wealth Builders boosted its holdings in shares of Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock worth $205,000 after buying an additional 59 shares during the period. Finally, New York Life Investment Management LLC lifted its position in Avery Dennison by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock worth $2,055,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.84% of the company's stock.

Avery Dennison Price Performance

AVY traded down $2.57 on Tuesday, reaching $169.71. The stock had a trading volume of 524,233 shares, compared to its average volume of 579,222. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. 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 firm has a 50-day moving average of $178.39 and a 200-day moving average of $192.27. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its 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%. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

Several research firms recently weighed in on AVY. Bank of America dropped their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Raymond James reiterated an "outperform" rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup decreased their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. UBS Group cut their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $220.87.

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.