Viawealth LLC Sells 115 Shares of Avery Dennison Co. (NYSE:AVY)

Viawealth LLC lessened its position in Avery Dennison Co. (NYSE:AVY) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,393 shares of the industrial products company’s stock after selling 115 shares during the quarter. Viawealth LLC’s holdings in Avery Dennison were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AVY. Greenleaf Trust grew its position in Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 57 shares during the period. AdvisorNet Financial Inc increased its position in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 58 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in Avery Dennison by 0.5% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after acquiring an additional 58 shares during the period. Cynosure Group LLC boosted its position in Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after purchasing an additional 59 shares during the last quarter. Finally, RMR Wealth Builders grew its stake in shares of Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 59 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVY. Raymond James reiterated an “outperform” rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company 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 Avery Dennison in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred 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 directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $179.05 on Thursday. The stock has a 50-day moving average price of $185.02 and a 200 day moving average price of $198.67. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12-month low of $174.91 and a 12-month high of $233.48. The stock has a market capitalization of $14.14 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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%. Equities research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business 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 dividend yield of 1.97%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

About Avery Dennison

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.