Massachusetts Financial Services Co. MA Increases Position in Avery Dennison Co. (NYSE:AVY)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 16.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 812,191 shares of the industrial products company’s stock after purchasing an additional 112,650 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Avery Dennison were worth $151,985,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Greenleaf Trust lifted 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 buying an additional 57 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. HBK Sorce Advisory LLC grew its position in shares of Avery Dennison by 0.5% in the fourth 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 period. RMR Wealth Builders increased its stake in shares of Avery Dennison by 5.7% during the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock worth $205,000 after purchasing an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock worth $2,055,000 after purchasing an additional 61 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Avery Dennison

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

Wall Street Analysts Forecast Growth

AVY has been the subject of several research reports. UBS Group cut their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. 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. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Down 3.4 %

Shares of NYSE AVY opened at $170.30 on Friday. Avery Dennison Co. has a 1 year low of $168.77 and a 1 year high of $233.48. The company has a market capitalization of $13.45 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a 50 day simple moving average of $181.82 and a 200-day simple moving average of $195.27. 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 posted 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%. On average, equities research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.