Mercer Global Advisors Inc. ADV Makes New $1.14 Million Investment in Avery Dennison Co. (NYSE:AVY)

Mercer Global Advisors Inc. ADV purchased a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,099 shares of the industrial products company's stock, valued at approximately $1,141,000.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Avery Dennison by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company's stock valued at $136,338,000 after acquiring an additional 4,670 shares during the period. Nordea Investment Management AB increased its holdings in Avery Dennison by 485.2% in the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock valued at $6,715,000 after purchasing an additional 29,541 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Avery Dennison by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,998 shares of the industrial products company's stock worth $2,058,000 after purchasing an additional 83 shares during the last quarter. RMR Wealth Builders lifted its holdings in Avery Dennison by 5.7% during the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock worth $205,000 after buying an additional 59 shares during the period. Finally, West Oak Capital LLC grew its position in shares of Avery Dennison by 131.4% in the 4th quarter. West Oak Capital LLC now owns 1,620 shares of the industrial products company's stock valued at $303,000 after buying an additional 920 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insiders Place Their Bets

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

Avery Dennison Stock Down 0.5 %

Shares of NYSE:AVY opened at $172.16 on Friday. The firm has a market cap of $13.46 billion, a P/E ratio of 19.74, 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 business's 50 day simple moving average is $173.77 and its two-hundred day simple moving average is $186.66. 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 posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the business posted $2.29 EPS. The business's revenue for the quarter was down .1% compared to the same quarter last year. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.94 per share. The ex-dividend date is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.18%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is 43.32%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVY. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. Jefferies Financial Group assumed coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target on the stock. 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 research report on Monday, April 7th. Raymond James dropped their target price on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, Robert W. Baird decreased their price target on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $206.60.

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.

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