1,493 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board acquired a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,493 shares of the industrial products company's stock, valued at approximately $279,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Greenleaf Trust lifted its stake in Avery Dennison by 4.4% in the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock worth $253,000 after acquiring an additional 57 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Avery Dennison by 18.8% during the fourth 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 last quarter. HBK Sorce Advisory LLC lifted its position in shares of Avery Dennison by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock valued at $2,220,000 after buying an additional 58 shares during the last quarter. RMR Wealth Builders lifted its position in shares of Avery Dennison by 5.7% during the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock valued at $205,000 after buying an additional 59 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in shares of 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 valued at $2,055,000 after buying an additional 61 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James decreased their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday. 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 research report on Friday, January 31st. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research note on Monday, February 3rd. Bank of America lowered their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.47.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.84% of the company's stock.

Avery Dennison Stock Performance

NYSE:AVY traded down $2.84 during mid-day trading on Wednesday, hitting $171.99. The company's stock had a trading volume of 587,172 shares, compared to its average volume of 791,119. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.07 and a beta of 0.85. The business's fifty day moving average is $177.15 and its two-hundred day moving average is $190.52.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.03). 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 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.05%. Avery Dennison's dividend payout ratio (DPR) is currently 40.37%.

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.