Tower Research Capital LLC TRC Increases Stock Position in Avery Dennison Co. (NYSE:AVY)

Tower Research Capital LLC TRC raised its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 45.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,572 shares of the industrial products company's stock after buying an additional 1,753 shares during the quarter. Tower Research Capital LLC TRC's holdings in Avery Dennison were worth $1,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVY. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. Spire Wealth Management raised its stake in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison in the 4th quarter valued at about $68,000. AdvisorNet Financial Inc increased its stake in Avery Dennison by 18.8% in the fourth 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 period. Finally, Assetmark Inc. raised its stake 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 worth $74,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Down 0.9 %

NYSE AVY traded down $1.59 during trading hours on Wednesday, hitting $170.13. 98,787 shares of the company traded hands, compared to its average volume of 594,372. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The business's 50-day moving average is $175.99 and its 200-day moving average is $188.99.

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). The firm 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%. The business's revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $2.29 earnings per share. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.21%. 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 43.32%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVY. Robert W. Baird dropped their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $205.00 to $172.00 in a report on Thursday, April 24th. Citigroup reduced their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. BMO Capital Markets cut their target price on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Barclays decreased their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $209.80.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction on 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 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. 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.