Concurrent Investment Advisors LLC Cuts Position in Avery Dennison Co. (NYSE:AVY)

Concurrent Investment Advisors LLC cut its stake in Avery Dennison Co. (NYSE:AVY) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,058 shares of the industrial products company’s stock after selling 448 shares during the period. Concurrent Investment Advisors LLC’s holdings in Avery Dennison were worth $947,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AVY. Allspring Global Investments Holdings LLC boosted its position in Avery Dennison by 19.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,639 shares of the industrial products company’s stock valued at $1,024,000 after buying an additional 764 shares during the period. Private Advisor Group LLC raised its stake in Avery Dennison by 2.7% in the third quarter. Private Advisor Group LLC now owns 12,488 shares of the industrial products company’s stock worth $2,757,000 after buying an additional 328 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Avery Dennison in the third quarter worth about $36,550,000. IFM Investors Pty Ltd grew its holdings in shares of Avery Dennison by 28.3% during the third quarter. IFM Investors Pty Ltd now owns 23,185 shares of the industrial products company’s stock valued at $5,118,000 after buying an additional 5,119 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of Avery Dennison by 7.3% during the third quarter. Tectonic Advisors LLC now owns 1,946 shares of the industrial products company’s stock valued at $430,000 after buying an additional 132 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Trading Up 0.0 %

NYSE AVY opened at $184.34 on Monday. The firm has a 50 day simple moving average of $187.01 and a 200-day simple moving average of $202.56. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.06 and a beta of 0.89.

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

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AVY shares. Raymond James restated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Barclays dropped their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Bank of America reduced their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

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.