Russell Investments Group Ltd. Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Russell Investments Group Ltd. cut its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,819 shares of the industrial products company's stock after selling 3,254 shares during the period. Russell Investments Group Ltd. owned 0.08% of Avery Dennison worth $12,317,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AVY. Vanguard Group Inc. boosted its position in shares of Avery Dennison by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after purchasing an additional 33,149 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Avery Dennison by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,102,331 shares of the industrial products company's stock valued at $392,445,000 after buying an additional 13,815 shares in the last quarter. Norges Bank purchased a new stake in shares of Avery Dennison in the 4th quarter worth about $188,643,000. Boston Partners increased its stake in shares of Avery Dennison by 7.7% in the 4th quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock worth $173,385,000 after acquiring an additional 66,216 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Avery Dennison by 16.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock valued at $151,985,000 after purchasing an additional 112,650 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

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Avery Dennison Trading Down 1.5 %

NYSE:AVY traded down $2.67 during mid-day trading on Tuesday, hitting $169.61. 464,866 shares of the stock traded hands, compared to its average volume of 578,951. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48. The firm's 50 day moving average is $178.39 and its two-hundred day moving average is $192.27.

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

Avery Dennison Dividend Announcement

The business 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. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.08%. Avery Dennison's dividend payout ratio is currently 40.37%.

Wall Street Analyst Weigh In

Several analysts recently commented on AVY shares. Citigroup cut their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. Raymond James reiterated an "outperform" rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group cut their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.87.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction 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 transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.84% of the company's stock.

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.