NewEdge Advisors LLC Grows Position in Avery Dennison Co. (NYSE:AVY)

NewEdge Advisors LLC boosted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,676 shares of the industrial products company's stock after acquiring an additional 6,448 shares during the period. NewEdge Advisors LLC owned about 0.23% of Avery Dennison worth $34,933,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AVY. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter worth $37,000. Spire Wealth Management grew its position in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the period. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the 4th quarter worth about $68,000. AdvisorNet Financial Inc grew its stake in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after buying an additional 58 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction that occurred 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 owns 303,331 shares in the company, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Stock Down 1.9 %

Shares of NYSE AVY traded down $3.26 during trading hours on Monday, hitting $167.59. The company had a trading volume of 145,092 shares, compared to its average volume of 583,114. The stock has a market capitalization of $13.16 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm's 50 day moving average is $177.54 and its 200-day moving average is $190.94. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is currently 40.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVY. Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. 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 note on Monday, January 6th. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Barclays decreased their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.