Trexquant Investment LP Sells 28,305 Shares of Avery Dennison Co. (NYSE:AVY)

Trexquant Investment LP trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 52.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,305 shares of the industrial products company’s stock after selling 28,305 shares during the period. Trexquant Investment LP’s holdings in Avery Dennison were worth $4,735,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after purchasing an additional 29,541 shares during the period. Meyer Handelman Co. bought a new position in shares of Avery Dennison during the 4th quarter worth about $4,263,000. JPMorgan Chase & Co. grew its stake in shares of Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after buying an additional 46,390 shares during the period. Unigestion Holding SA bought a new stake in Avery Dennison in the 3rd quarter valued at about $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Avery Dennison during the 4th quarter worth approximately $218,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVY. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Bank of America decreased their price target 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. Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. raised shares of 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 research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction 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 represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.84% of the company’s stock.

Avery Dennison Stock Down 3.4 %

Shares of NYSE:AVY opened at $170.30 on Friday. The company has a market capitalization 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. Avery Dennison Co. has a 1 year low of $168.77 and a 1 year high of $233.48. 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 business has a fifty day moving average price of $181.82 and a two-hundred day moving average price of $195.09.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

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.