VELA Investment Management LLC Sells 4,135 Shares of Avery Dennison Co. (NYSE:AVY)

VELA Investment Management LLC lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 53.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,542 shares of the industrial products company's stock after selling 4,135 shares during the period. VELA Investment Management LLC's holdings in Avery Dennison were worth $716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Street Markets LLC increased its holdings in shares of Avery Dennison by 92.7% during the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Avery Dennison in the third quarter worth approximately $32,000. Eagle Bay Advisors LLC purchased a new stake in shares of Avery Dennison during the second quarter valued at approximately $33,000. IFP Advisors Inc increased its position in shares of Avery Dennison by 56.3% during the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new position in Avery Dennison in the 1st quarter worth approximately $35,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares of the company's stock, valued at approximately $1,014,940.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock valued at $4,217,705. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup increased their target price on Avery Dennison from $223.00 to $234.00 and gave the company a "neutral" rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the company an "overweight" rating in a research note on Thursday, February 1st. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Wednesday, March 27th. Raymond James boosted their price target on Avery Dennison from $199.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Finally, Bank of America downgraded shares of Avery Dennison from a "buy" rating to an "underperform" rating and set a $208.00 price objective for the company. in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.00.

Avery Dennison Stock Up 0.0 %

AVY stock traded up $0.05 on Monday, hitting $211.28. 272,178 shares of the company's stock were exchanged, compared to its average volume of 431,135. The stock has a market cap of $17.01 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The firm has a 50 day moving average price of $214.34 and a two-hundred day moving average price of $198.72. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $225.26.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The firm's revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. As a group, equities research analysts expect that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison's payout ratio is 52.17%.

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.