Avery Dennison Co. (NYSE:AVY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its position in Avery Dennison Co. (NYSE:AVY) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,961 shares of the industrial products company’s stock after selling 1,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Avery Dennison were worth $4,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AVY. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Avery Dennison in the 4th quarter valued at approximately $2,357,000. Avantax Advisory Services Inc. lifted its stake in Avery Dennison by 7.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,436 shares of the industrial products company’s stock valued at $1,579,000 after buying an additional 565 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Avery Dennison by 49.8% in the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock valued at $77,000 after buying an additional 136 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Avery Dennison by 16.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,669 shares of the industrial products company’s stock valued at $1,061,000 after buying an additional 815 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its stake in Avery Dennison by 14.3% in the 4th quarter. Wealthfront Advisers LLC now owns 9,862 shares of the industrial products company’s stock valued at $1,845,000 after buying an additional 1,233 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Up 1.7 %

Shares of NYSE AVY opened at $178.91 on Friday. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48. The company has a market cap of $14.13 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock has a fifty day moving average price of $185.49 and a 200 day moving average price of $199.52.

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

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.97%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Analyst Ratings Changes

AVY has been the topic of a number of recent research reports. UBS Group reduced their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays reduced their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $220.00 price target on Avery Dennison in a research note on Friday, January 31st. Finally, Citigroup reduced their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.51.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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.