Vident Advisory LLC Lowers Stock Position in Avery Dennison Co. (NYSE:AVY)

Vident Advisory LLC lowered its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 54.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,299 shares of the industrial products company's stock after selling 2,747 shares during the period. Vident Advisory LLC's holdings in Avery Dennison were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management raised its position in Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after acquiring an additional 130 shares during the period. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the 4th quarter worth $68,000. Assetmark Inc. grew its holdings in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings 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 worth $77,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Down 1.1%

NYSE:AVY traded down $1.97 during mid-day trading on Friday, hitting $177.68. 1,306,679 shares of the stock traded hands, compared to its average volume of 615,362. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 52 week low of $157.00 and a 52 week high of $233.48. The firm's 50 day moving average is $174.19 and its two-hundred day moving average is $183.81. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

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

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.94 dividend. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, June 4th. Avery Dennison's dividend payout ratio is currently 43.32%.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Jefferies Financial Group started coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target on the stock. Barclays decreased their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird decreased their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $206.60.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction dated 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 transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.84% of the company's stock.

Avery Dennison Company 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.