Avery Dennison Co. (NYSE:AVY) Stake Lowered by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,100 shares of the industrial products company’s stock after selling 1,400 shares during the period. Orion Portfolio Solutions LLC’s holdings in Avery Dennison were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AVY. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management raised its position in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the fourth quarter valued at approximately $68,000. AdvisorNet Financial Inc increased its stake in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds 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 dated 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 transaction, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is owned by company insiders.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $170.30 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market cap of $13.45 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm has a fifty day moving average price of $181.82 and a two-hundred day moving average price of $195.27. Avery Dennison Co. has a fifty-two week low of $168.77 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last released its earnings results 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%. Analysts expect that Avery Dennison Co. will post 9.96 EPS for the current 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 of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.07%. Avery Dennison’s payout ratio is 40.37%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVY. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Barclays lowered their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. UBS Group reduced their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Citigroup reduced their price objective 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

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.