National Bank of Canada FI Decreases Position in Avery Dennison Co. (NYSE:AVY)

National Bank of Canada FI reduced its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,617 shares of the industrial products company's stock after selling 3,545 shares during the period. National Bank of Canada FI's holdings in Avery Dennison were worth $7,039,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of 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 buying an additional 300 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in Avery Dennison by 2.8% in the third quarter. Royal London Asset Management Ltd. now owns 32,969 shares of the industrial products company's stock worth $7,278,000 after purchasing an additional 893 shares during the last quarter. Quantinno Capital Management LP grew its stake in Avery Dennison by 18.1% in the 3rd quarter. Quantinno Capital Management LP now owns 21,681 shares of the industrial products company's stock valued at $4,786,000 after purchasing an additional 3,319 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at $451,000. Finally, EP Wealth Advisors LLC raised its stake in shares of Avery Dennison by 286.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 4,381 shares of the industrial products company's stock worth $967,000 after purchasing an additional 3,247 shares during the period. 94.17% of the stock is owned by institutional investors.

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Avery Dennison Stock Performance

Shares of NYSE AVY traded up $2.81 during mid-day trading on Friday, hitting $169.39. The company had a trading volume of 1,090,810 shares, compared to its average volume of 577,832. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.07 and a beta of 0.85. The stock's 50-day moving average price is $178.64 and its 200-day moving average price is $192.82.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts' consensus estimates 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 forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

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

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVY has been the subject of several research reports. UBS Group reduced their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research report on Monday. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America dropped their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, 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 report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.87.

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.