Price T Rowe Associates Inc. MD Sells 7,229 Shares of Avery Dennison Co. (NYSE:AVY)

Price T Rowe Associates Inc. MD decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,179,197 shares of the industrial products company's stock after selling 7,229 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.47% of Avery Dennison worth $220,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Regents Gate Capital LLP bought a new stake in Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management lifted its stake in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after purchasing an additional 130 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison in the 4th quarter valued at $68,000. Finally, Assetmark Inc. raised its holdings in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after buying an additional 73 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Down 0.6 %

Shares of AVY stock traded down $0.97 during mid-day trading on Thursday, hitting $170.14. The company's stock had a trading volume of 145,196 shares, compared to its average volume of 595,052. The company has a market cap of $13.36 billion, a PE ratio of 19.50, a P/E/G ratio of 2.07 and a beta of 0.85. The company's fifty day simple moving average is $175.73 and its 200-day simple moving average is $188.86. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. The business's quarterly revenue was down .1% on a year-over-year basis. As a group, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.21%. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction that occurred on Thursday, March 6th. The shares were 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 directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVY shares. Robert W. Baird decreased their target price on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Jefferies Financial Group assumed coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Barclays reduced their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, BMO Capital Markets dropped their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and an average price target of $209.80.

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.