Avery Dennison Co. (NYSE:AVY) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC cut its holdings in Avery Dennison Co. (NYSE:AVY) by 35.9% in the 4th quarter, HoldingsChannel reports. The fund owned 8,120 shares of the industrial products company’s stock after selling 4,555 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Avery Dennison were worth $1,759,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cerity Partners LLC increased its stake in Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after purchasing an additional 1,163,264 shares during the last quarter. Morgan Stanley increased its stake in shares of Avery Dennison by 55.7% during the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after acquiring an additional 639,521 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after acquiring an additional 493,857 shares during the period. Boston Partners boosted its position in shares of Avery Dennison by 43.9% in the third quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after acquiring an additional 307,325 shares during the last quarter. Finally, FMR LLC grew its holdings in Avery Dennison by 27.5% in the third quarter. FMR LLC now owns 958,790 shares of the industrial products company’s stock valued at $175,142,000 after purchasing an additional 206,784 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Down 0.9 %

Shares of NYSE:AVY traded down $1.98 during mid-day trading on Tuesday, hitting $216.41. 97,394 shares of the company traded hands, compared to its average volume of 441,953. The firm’s 50 day simple moving average is $215.91 and its 200 day simple moving average is $200.82. The firm has a market cap of $17.43 billion, a P/E ratio of 31.64, a PEG ratio of 3.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $225.26.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities analysts anticipate that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s payout ratio is presently 47.30%.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of recent analyst reports. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a research report on Tuesday, January 2nd. UBS Group boosted their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Raymond James restated an “outperform” rating and issued a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Finally, Citigroup lifted their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

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.