Triglav Skladi D.O.O. Acquires New Stake in Avery Dennison Co. (NYSE:AVY)

Triglav Skladi D.O.O. bought a new position in Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 39,810 shares of the industrial products company's stock, valued at approximately $7,450,000.

A number of other institutional investors have also added to or reduced their stakes in AVY. Regents Gate Capital LLP bought a new position in shares of Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management increased its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison during the 4th quarter valued at about $68,000. AdvisorNet Financial Inc increased its position in shares of Avery Dennison by 18.8% during 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 during the last quarter. Finally, Assetmark Inc. increased its position 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 valued at $74,000 after purchasing an additional 73 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on AVY. Jefferies Financial Group began coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price objective on the stock. Barclays reduced their price target on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Raymond James reduced their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered 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 research report on Thursday, April 24th. Finally, UBS Group reduced their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average price target of $206.60.

Avery Dennison Trading Down 1.5%

NYSE AVY traded down $2.66 on Friday, hitting $177.64. The company's stock had a trading volume of 586,550 shares, compared to its average volume of 611,170. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company's 50-day simple moving average is $173.96 and its 200 day simple moving average is $184.94. The firm has a market cap of $13.89 billion, a P/E ratio of 20.37, a PEG ratio of 2.07 and a beta of 0.88.

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

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.84% of the stock is currently owned by company insiders.

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.