Harel Insurance Investments & Financial Services Ltd. reduced its position in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 300 shares of the industrial products company’s stock after selling 200 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Avery Dennison were worth $54,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. MGO One Seven LLC acquired a new stake in Avery Dennison in the fourth quarter valued at approximately $641,000. Ritholtz Wealth Management purchased a new stake in Avery Dennison in the 3rd quarter worth $301,000. Pacer Advisors Inc. raised its position in Avery Dennison by 42.3% during the third quarter. Pacer Advisors Inc. now owns 659 shares of the industrial products company’s stock worth $107,000 after acquiring an additional 196 shares during the period. Atria Investments LLC lifted its holdings in Avery Dennison by 8.2% during the third quarter. Atria Investments LLC now owns 7,920 shares of the industrial products company’s stock valued at $1,289,000 after purchasing an additional 597 shares in the last quarter. Finally, AMI Asset Management Corp grew its position in shares of Avery Dennison by 21.8% in the fourth quarter. AMI Asset Management Corp now owns 4,449 shares of the industrial products company’s stock valued at $805,000 after purchasing an additional 796 shares during the period. 89.05% of the stock is currently owned by institutional investors and hedge funds.
Avery Dennison Stock Up 0.0 %
Shares of NYSE AVY opened at $176.87 on Friday. The company has a market capitalization of $14.35 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.73 and a beta of 0.95. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.99 and a quick ratio of 0.63. The company has a 50 day simple moving average of $178.52 and a 200-day simple moving average of $179.25. Avery Dennison Co. has a 1 year low of $151.62 and a 1 year high of $204.37.
Avery Dennison Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, February 28th. Avery Dennison’s dividend payout ratio is presently 32.57%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on AVY. Bank of America raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $205.00 in a research note on Thursday, December 15th. StockNews.com began coverage on Avery Dennison in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Citigroup lifted their target price on shares of Avery Dennison from $204.00 to $216.00 in a research note on Wednesday, January 4th. BMO Capital Markets reduced their target price on shares of Avery Dennison from $240.00 to $233.00 and set an “outperform” rating for the company in a research report on Monday, February 6th. Finally, Raymond James upped their price objective on shares of Avery Dennison from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.10.
Insider Activity
In related news, SVP Nicholas Colisto sold 3,842 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $180.43, for a total value of $693,212.06. Following the completion of the sale, the senior vice president now owns 7,978 shares in the company, valued at approximately $1,439,470.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Nicholas Colisto sold 3,842 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $180.43, for a total transaction of $693,212.06. Following the completion of the transaction, the senior vice president now directly owns 7,978 shares in the company, valued at $1,439,470.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anthony Anderson sold 816 shares of Avery Dennison stock in a transaction on Monday, February 13th. The shares were sold at an average price of $183.99, for a total value of $150,135.84. Following the completion of the sale, the director now directly owns 558 shares of the company’s stock, valued at $102,666.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,458 shares of company stock valued at $1,898,948. Company insiders own 1.10% of the company’s stock.
About Avery Dennison
Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.
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