Dana Investment Advisors Inc. Grows Stake in Avery Dennison Co. (NYSE:AVY)

Dana Investment Advisors Inc. lifted its position in Avery Dennison Co. (NYSE:AVY) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,883 shares of the industrial products company’s stock after buying an additional 599 shares during the period. Dana Investment Advisors Inc.’s holdings in Avery Dennison were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its holdings in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank bought a new position in Avery Dennison in the 3rd quarter worth $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison in the 3rd quarter worth $39,000. Regents Gate Capital LLP bought a new position in Avery Dennison in the 4th quarter worth $37,000. Finally, Brooklyn Investment Group bought a new position in Avery Dennison in the 3rd quarter worth $66,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVY. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Robert W. Baird set a $220.00 price target on Avery Dennison in a report on Friday, January 31st. Raymond James reissued 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. UBS Group decreased their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Trading Up 0.8 %

Shares of Avery Dennison stock opened at $183.94 on Friday. The firm has a market cap of $14.53 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 2.07 and a beta of 0.85. The business has a 50-day moving average price of $186.11 and a 200-day moving average price of $200.82. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48.

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

Avery Dennison Dividend Announcement

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

Avery Dennison Company 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.