Royal London Asset Management Ltd. Purchases 3,045 Shares of Avery Dennison Co. (NYSE:AVY)

Royal London Asset Management Ltd. increased its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,014 shares of the industrial products company's stock after buying an additional 3,045 shares during the period. Royal London Asset Management Ltd.'s holdings in Avery Dennison were worth $6,739,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AVY. Larson Financial Group LLC lifted its position in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Regents Gate Capital LLP bought a new position in Avery Dennison in the 4th quarter worth approximately $37,000. Brooklyn Investment Group bought a new position in Avery Dennison in the 3rd quarter valued at $66,000. Spire Wealth Management increased its stake in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the period. Finally, AdvisorNet Financial Inc raised 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 worth $69,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm'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 value of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.84% of the stock is owned by corporate insiders.

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Avery Dennison Stock Up 0.1 %

Shares of NYSE AVY traded up $0.22 during mid-day trading on Thursday, reaching $178.16. 377,055 shares of the company's stock were exchanged, compared to its average volume of 511,820. Avery Dennison Co. has a twelve month low of $173.02 and a twelve month high of $233.48. 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 market capitalization of $14.07 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.07 and a beta of 0.85. The business has a fifty day simple moving average of $183.85 and a 200 day simple moving average of $197.18.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.

Analyst Ratings Changes

AVY has been the topic of several recent research reports. Raymond James reiterated 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. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and lowered their price target 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. UBS Group reduced their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Finally, Barclays dropped their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

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.