Handelsbanken Fonder AB Decreases Stock Position in Avery Dennison Co. (NYSE:AVY)

Handelsbanken Fonder AB lessened its stake in shares of Avery Dennison Co. (NYSE:AVY) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,700 shares of the industrial products company’s stock after selling 900 shares during the period. Handelsbanken Fonder AB’s holdings in Avery Dennison were worth $4,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. Nordea Investment Management AB increased its stake in Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after purchasing an additional 29,541 shares during the period. Victory Capital Management Inc. grew its position in shares of Avery Dennison by 6.8% during 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 buying an additional 90,250 shares in the last quarter. Icon Wealth Advisors LLC grew its position in shares of Avery Dennison by 553.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after buying an additional 2,657 shares in the last quarter. Meyer Handelman Co. bought a new stake in Avery Dennison during the fourth quarter valued at about $4,263,000. Finally, JPMorgan Chase & Co. boosted its holdings in Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $184.34 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a fifty day moving average of $187.01 and a two-hundred day moving average of $202.56. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.06 and a beta of 0.89. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48.

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

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid 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 dividend payout ratio (DPR) is 40.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AVY shares. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group reduced their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. Three equities 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, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price 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.