Advisors Asset Management Inc. Has $2.52 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Advisors Asset Management Inc. lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,460 shares of the industrial products company’s stock after purchasing an additional 1,453 shares during the quarter. Advisors Asset Management Inc.’s holdings in Avery Dennison were worth $2,519,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after purchasing an additional 29,541 shares in the last quarter. Icon Wealth Advisors LLC lifted its position in shares of Avery Dennison by 553.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after buying an additional 2,657 shares during the last quarter. Meyer Handelman Co. bought a new stake in shares of Avery Dennison during the 4th quarter worth $4,263,000. JPMorgan Chase & Co. lifted its position in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after buying an additional 46,390 shares during the last quarter. Finally, Unigestion Holding SA bought a new stake in shares of Avery Dennison during the 3rd quarter worth $6,701,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s 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 transaction, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This trade represents a 2.49 % 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 hyperlink. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 1.3 %

Shares of Avery Dennison stock opened at $174.68 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52 week low of $173.02 and a 52 week high of $233.48. The stock has a 50 day moving average price of $184.59 and a two-hundred day moving average price of $198.19. The stock has a market capitalization of $13.79 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last announced 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%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued 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 2.02%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

Several brokerages recently weighed in on AVY. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Barclays dropped their target price 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison 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.