Norden Group LLC Sells 2,676 Shares of Avery Dennison Co. (NYSE:AVY)

Norden Group LLC cut its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 42.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,676 shares of the industrial products company's stock after selling 2,676 shares during the period. Norden Group LLC's holdings in Avery Dennison were worth $688,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC increased its stake in Avery Dennison by 4.1% in the fourth quarter. Metis Global Partners LLC now owns 7,609 shares of the industrial products company's stock valued at $1,424,000 after acquiring an additional 298 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Avery Dennison by 1.8% in the 4th quarter. Private Trust Co. NA now owns 7,209 shares of the industrial products company's stock valued at $1,349,000 after purchasing an additional 127 shares during the last quarter. Versor Investments LP raised its holdings in shares of Avery Dennison by 65.2% during the 4th quarter. Versor Investments LP now owns 5,350 shares of the industrial products company's stock worth $1,001,000 after buying an additional 2,112 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth $12,730,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Avery Dennison by 2.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 31,500 shares of the industrial products company's stock valued at $5,895,000 after buying an additional 700 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

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Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Trading Up 0.8 %

AVY stock traded up $1.54 during trading on Friday, hitting $183.94. The company had a trading volume of 1,195,449 shares, compared to its average volume of 753,003. The stock has a market cap of $14.53 billion, a PE ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.89. The business has a 50-day moving average of $186.21 and a 200-day moving average of $201.10. 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 one year low of $178.72 and a one year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS 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%. Research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio is 40.37%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVY shares. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Raymond James reaffirmed an "outperform" rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays dropped their price target on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of "Moderate Buy" and a consensus target price of $222.51.

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.