Delta Asset Management LLC TN Reduces Stock Position in Avery Dennison Co. (NYSE:AVY)

Delta Asset Management LLC TN decreased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,278 shares of the industrial products company’s stock after selling 1,662 shares during the quarter. Avery Dennison comprises 1.9% of Delta Asset Management LLC TN’s holdings, making the stock its 17th largest position. Delta Asset Management LLC TN owned 0.14% of Avery Dennison worth $20,823,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. Greenleaf Trust boosted its position in shares of Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 57 shares during the last quarter. AdvisorNet Financial Inc raised its stake in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares during the period. HBK Sorce Advisory LLC boosted its holdings in Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after purchasing an additional 58 shares during the last quarter. Cynosure Group LLC grew its stake in shares of Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after buying an additional 59 shares during the period. Finally, RMR Wealth Builders increased its holdings in shares of Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock worth $205,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.84% of the stock is owned by company insiders.

Avery Dennison Stock Performance

Shares of AVY opened at $178.04 on Thursday. The stock has a 50-day simple moving average of $183.85 and a 200-day simple moving average of $197.18. 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 1 year low of $173.02 and a 1 year high of $233.48. The stock has a market capitalization of $14.06 billion, a PE ratio of 20.42, a PEG ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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 return on equity of 33.06% and a net margin of 8.05%. On average, analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed 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 was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.98%. Avery Dennison’s payout ratio is currently 40.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AVY shares. Citigroup decreased their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. UBS Group reduced their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target 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.