Avery Dennison Co. (NYSE:AVY) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 12.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 97,875 shares of the industrial products company’s stock after selling 14,356 shares during the period. Impax Asset Management Group plc’s holdings in Avery Dennison were worth $18,315,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVY. Empirical Finance LLC increased its stake in Avery Dennison by 2.0% in the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after purchasing an additional 55 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after buying an additional 57 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares during the last quarter. Lindenwold Advisors INC raised its stake in Avery Dennison by 0.6% during the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after acquiring an additional 59 shares in the last quarter. Finally, Cynosure Group LLC lifted its position in Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $184.55 on Tuesday. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48. The firm’s fifty day moving average price is $187.01 and its 200 day moving average price is $202.56.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research reports. Barclays dropped their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Finally, Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

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.