Avery Dennison Co. (NYSE:AVY) Shares Acquired by Financial Counselors Inc.

Financial Counselors Inc. grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,844 shares of the industrial products company’s stock after buying an additional 1,451 shares during the quarter. Financial Counselors Inc.’s holdings in Avery Dennison were worth $9,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in shares of Avery Dennison by 30.0% during the third quarter. Citigroup Inc. now owns 83,512 shares of the industrial products company’s stock valued at $18,436,000 after purchasing an additional 19,248 shares during the last quarter. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Daiwa Securities Group Inc. grew its position in Avery Dennison by 13.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,914 shares of the industrial products company’s stock worth $2,189,000 after purchasing an additional 1,175 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in Avery Dennison by 6.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,049 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 64 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Avery Dennison by 1.9% in the third quarter. Bank of Montreal Can now owns 254,942 shares of the industrial products company’s stock valued at $56,684,000 after purchasing an additional 4,729 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AVY shares. Robert W. Baird set a $220.00 price target on Avery Dennison in a research report on Friday, January 31st. Bank of America dropped their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Raymond James restated an “outperform” rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Citigroup decreased their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Stock Performance

AVY stock opened at $178.04 on Thursday. The firm has a 50 day moving average of $183.85 and a two-hundred day moving average of $197.18. Avery Dennison Co. has a 12 month low of $173.02 and a 12 month high of $233.48. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.98%. Avery Dennison’s payout ratio is presently 40.37%.

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.