Fmr LLC Lowers Stock Position in Avery Dennison Co. (NYSE:AVY)

Fmr LLC lessened its stake in Avery Dennison Co. (NYSE:AVY) by 39.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,943 shares of the industrial products company’s stock after selling 361,534 shares during the period. Fmr LLC’s holdings in Avery Dennison were worth $104,782,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Regents Gate Capital LLP purchased a new position in Avery Dennison in the fourth quarter worth $37,000. Spire Wealth Management boosted its holdings in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison during the 4th quarter valued at about $68,000. AdvisorNet Financial Inc raised its holdings in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares in the last quarter. Finally, Assetmark Inc. lifted its position in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 1.6 %

AVY opened at $172.35 on Tuesday. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The business has a 50 day simple moving average of $178.39 and a two-hundred day simple moving average of $192.27. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last announced its earnings results 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 net margin of 8.05% and a return on equity of 33.06%. Analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVY shares. Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $210.00 to $205.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $220.87.

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.