Avery Dennison Co. (NYSE:AVY) Shares Bought by Boston Partners

Boston Partners grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 926,506 shares of the industrial products company’s stock after buying an additional 66,216 shares during the period. Boston Partners’ holdings in Avery Dennison were worth $173,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Avery Dennison in the 4th quarter worth approximately $51,521,000. Geode Capital Management LLC grew its holdings in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock worth $143,078,000 after acquiring an additional 134,560 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Avery Dennison by 411.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock worth $23,084,000 after acquiring an additional 99,232 shares during the period. Finally, World Investment Advisors LLC grew its holdings in shares of Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after acquiring an additional 88,491 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.1 %

Shares of Avery Dennison stock opened at $179.85 on Wednesday. Avery Dennison Co. has a fifty-two week low of $174.91 and a fifty-two week high of $233.48. The firm has a market cap of $14.20 billion, a PE ratio of 20.62, a P/E/G ratio of 2.07 and a beta of 0.85. The business’s fifty day moving average is $185.19 and its two-hundred day moving average is $198.81. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

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

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group lowered their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Barclays lowered their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.