Meyer Handelman Co. Takes $4.26 Million Position in Avery Dennison Co. (NYSE:AVY)

Meyer Handelman Co. acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,782 shares of the industrial products company’s stock, valued at approximately $4,263,000.

Several other large investors also recently bought and sold shares of AVY. Geode Capital Management LLC grew its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the period. Victory Capital Management Inc. increased 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 valued at $312,772,000 after purchasing an additional 90,250 shares during the last quarter. World Investment Advisors LLC increased its holdings in Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after buying an additional 88,491 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Avery Dennison in the second quarter worth approximately $11,733,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Avery Dennison by 12.4% during the 3rd 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 during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on AVY shares. Barclays decreased their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Citigroup lowered their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.05.

Avery Dennison Stock Up 0.6 %

AVY opened at $189.17 on Wednesday. Avery Dennison Co. has a 52 week low of $181.99 and a 52 week high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a 50-day simple moving average of $195.92 and a two-hundred day simple moving average of $208.30. The company has a market capitalization of $15.20 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 EPS. Analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.86%. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.