T. Rowe Price Investment Management Inc. Has $790.68 Million Holdings in Avery Dennison Co. (NYSE:AVY)

T. Rowe Price Investment Management Inc. grew its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,225,309 shares of the industrial products company's stock after buying an additional 150,572 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 5.26% of Avery Dennison worth $790,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AVY. Greenleaf Trust raised its holdings 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 purchasing an additional 57 shares during the period. AdvisorNet Financial Inc lifted its holdings 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 purchasing an additional 58 shares in the last quarter. HBK Sorce Advisory LLC grew its position in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock valued at $2,220,000 after purchasing an additional 58 shares during the period. RMR Wealth Builders increased its stake in Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock worth $205,000 after purchasing an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC raised its holdings in Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock worth $2,055,000 after buying an additional 61 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 sale, the chairman now directly owns 303,331 shares of the company's stock, 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 filing with the SEC, which is available at this link. 0.84% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Up 3.7 %

NYSE:AVY opened at $175.21 on Wednesday. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. 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 Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The stock's 50 day moving average price is $177.15 and its two-hundred day moving average price is $190.52.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors 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 annualized dividend and a yield of 2.01%. Avery Dennison's dividend payout ratio (DPR) is currently 40.37%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. UBS Group reduced their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Bank of America dropped their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, Raymond James dropped their target price on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $215.47.

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.

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