Avery Dennison Co. (NYSE:AVY) Shares Purchased by Great Diamond Partners LLC

Great Diamond Partners LLC grew its position in Avery Dennison Co. (NYSE:AVY) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,525 shares of the industrial products company’s stock after buying an additional 144 shares during the period. Great Diamond Partners LLC’s holdings in Avery Dennison were worth $660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. AQR Capital Management LLC raised its holdings in shares of Avery Dennison by 25.1% during the second quarter. AQR Capital Management LLC now owns 14,058 shares of the industrial products company’s stock worth $3,074,000 after purchasing an additional 2,819 shares during the period. Millennium Management LLC raised its stake in Avery Dennison by 10.6% during the second quarter. Millennium Management LLC now owns 68,885 shares of the industrial products company’s stock worth $15,062,000 after acquiring an additional 6,627 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Avery Dennison by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 52,296 shares of the industrial products company’s stock worth $11,435,000 after acquiring an additional 2,774 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Avery Dennison by 21.5% in the second quarter. EP Wealth Advisors LLC now owns 1,134 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 201 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Avery Dennison during the second quarter valued at approximately $2,710,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVY. Barclays cut their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Raymond James restated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $210.00 to $205.00 in a research report on Friday. BMO Capital Markets decreased their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $228.96.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $185.85 on Friday. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.38 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 Co. has a 12 month low of $179.20 and a 12 month high of $233.48. The stock’s 50 day moving average price is $193.54 and its 200 day moving average price is $206.34.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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 net margin of 7.76% and a return on equity of 33.01%. Equities research analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.89%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% 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.