Busey Bank Buys New Holdings in Avery Dennison Co. (NYSE:AVY)

Busey Bank purchased a new position in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,119 shares of the industrial products company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVY. Geode Capital Management LLC increased its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the period. Victory Capital Management Inc. grew its holdings in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. increased its position in shares of Avery Dennison by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after acquiring an additional 5,756 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after acquiring an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Avery Dennison by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after purchasing an additional 1,782 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 5.3 %

NYSE:AVY opened at $182.67 on Friday. Avery Dennison Co. has a one year low of $179.20 and a one year high of $233.48. The company’s 50-day simple moving average is $193.87 and its 200 day simple moving average is $206.51. The firm has a market capitalization of $14.68 billion, a P/E ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results 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 return on equity of 33.01% and a net margin of 7.76%. As a group, analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup decreased their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. BMO Capital Markets cut their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays decreased their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, UBS Group cut their target price 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. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $235.05.

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.