Ferguson Wellman Capital Management Inc. Buys 84,501 Shares of Avery Dennison Co. (NYSE:AVY)

Ferguson Wellman Capital Management Inc. increased its stake in Avery Dennison Co. (NYSE:AVY) by 135.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,830 shares of the industrial products company’s stock after buying an additional 84,501 shares during the period. Ferguson Wellman Capital Management Inc. owned 0.18% of Avery Dennison worth $27,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clarius Group LLC bought a new position in shares of Avery Dennison in the 3rd quarter worth approximately $201,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Avery Dennison by 255.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 950 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 683 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Avery Dennison by 18.6% during the third quarter. Exchange Traded Concepts LLC now owns 3,771 shares of the industrial products company’s stock valued at $832,000 after buying an additional 591 shares during the period. Paladin Wealth LLC bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $504,000. Finally, Procyon Advisors LLC grew its position in shares of Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after buying an additional 56 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $179.10 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 firm has a market cap of $14.39 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The business has a 50-day simple moving average of $190.86 and a two-hundred day simple moving average of $204.59. 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 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVY shares. Barclays dropped their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Bank of America dropped their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. BMO Capital Markets dropped their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.15.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

About Avery Dennison

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.