Vivaldi Capital Management LP Purchases Shares of 8,067 Avery Dennison Co. (NYSE:AVY)

Vivaldi Capital Management LP bought a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,067 shares of the industrial products company's stock, valued at approximately $1,580,000.

Several other large investors also recently added to or reduced their stakes in the business. Twinbeech Capital LP bought a new stake in Avery Dennison in the fourth quarter worth approximately $230,000. Triglav Skladi D.O.O. bought a new stake in Avery Dennison in the fourth quarter worth approximately $7,450,000. Two Sigma Advisers LP grew its position in Avery Dennison by 75.6% in the fourth quarter. Two Sigma Advisers LP now owns 30,900 shares of the industrial products company's stock worth $5,782,000 after acquiring an additional 13,300 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of Avery Dennison by 135.5% during the 4th quarter. Tidal Investments LLC now owns 14,031 shares of the industrial products company's stock worth $2,626,000 after buying an additional 8,074 shares during the period. Finally, Snowden Capital Advisors LLC boosted its holdings in shares of Avery Dennison by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 25,192 shares of the industrial products company's stock worth $4,714,000 after buying an additional 1,333 shares during the period. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVY. Barclays decreased their price objective on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. UBS Group decreased their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Jefferies Financial Group began coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $206.60.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business'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. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by insiders.

Avery Dennison Price Performance

Shares of NYSE:AVY traded down $2.66 during midday trading on Friday, reaching $177.64. 586,550 shares of the company's stock were exchanged, compared to its average volume of 611,170. The company's 50 day simple moving average is $173.96 and its two-hundred day simple moving average is $184.94. The firm has a market capitalization of $13.89 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48. 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 (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Avery Dennison's revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

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.