Machina Capital S.A.S. Sells 957 Shares of Avery Dennison Co. (NYSE:AVY)

Machina Capital S.A.S. cut its stake in Avery Dennison Co. (NYSE:AVY) by 30.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,152 shares of the industrial products company’s stock after selling 957 shares during the period. Machina Capital S.A.S.’s holdings in Avery Dennison were worth $403,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Andra AP fonden grew its holdings in Avery Dennison by 41.0% during the 4th quarter. Andra AP fonden now owns 79,400 shares of the industrial products company’s stock worth $14,858,000 after acquiring an additional 23,100 shares in the last quarter. Edgestream Partners L.P. grew its holdings in Avery Dennison by 153.0% during the 4th quarter. Edgestream Partners L.P. now owns 21,310 shares of the industrial products company’s stock worth $3,988,000 after acquiring an additional 12,886 shares in the last quarter. Callan Family Office LLC bought a new position in Avery Dennison during the 4th quarter worth about $383,000. Raymond James Financial Inc. bought a new position in Avery Dennison during the 4th quarter worth about $51,521,000. Finally, Dana Investment Advisors Inc. lifted its position in shares of Avery Dennison by 8.2% during the fourth quarter. Dana Investment Advisors Inc. now owns 7,883 shares of the industrial products company’s stock valued at $1,475,000 after buying an additional 599 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were 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 of the company’s stock, valued at $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Trading Up 0.8 %

Shares of AVY stock opened at $183.94 on Friday. The company’s 50-day moving average price is $186.11 and its 200-day moving average price is $200.82. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last announced 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 net margin of 8.05% and a return on equity of 33.06%. As a group, equities 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. Avery Dennison’s payout ratio is currently 40.37%.

Wall Street Analysts Forecast Growth

AVY has been the subject of several analyst reports. UBS Group decreased their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays cut their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

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.