Avery Dennison Co. (NYSE:AVY) Shares Sold by Amundi

Amundi cut its holdings in Avery Dennison Co. (NYSE:AVY) by 42.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 327,531 shares of the industrial products company’s stock after selling 236,780 shares during the period. Amundi’s holdings in Avery Dennison were worth $61,481,000 at the end of the most recent reporting period.

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

Avery Dennison Stock Down 3.4 %

Shares of NYSE AVY opened at $180.23 on Wednesday. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The company has a market cap of $14.24 billion, a P/E ratio of 20.67, a P/E/G ratio of 2.07 and a beta of 0.85. 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 fifty day moving average price of $185.97 and a 200 day moving average price of $200.24.

Avery Dennison (NYSE:AVY) last announced 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 net margin of 8.05% and a return on equity of 33.06%. Research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.95%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVY. Raymond James reiterated an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group dropped their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. 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 report on Friday, January 31st. Citigroup dropped their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Bank of America dropped their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.51.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.