Shufro Rose & Co. LLC Reduces Holdings in Avery Dennison Co. (NYSE:AVY)

Shufro Rose & Co. LLC trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 142,474 shares of the industrial products company’s stock after selling 448 shares during the period. Avery Dennison accounts for approximately 2.6% of Shufro Rose & Co. LLC’s portfolio, making the stock its 13th largest position. Shufro Rose & Co. LLC’s holdings in Avery Dennison were worth $28,803,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in Avery Dennison by 38.3% during the third quarter. Exchange Traded Concepts LLC now owns 3,298 shares of the industrial products company’s stock worth $602,000 after buying an additional 914 shares during the last quarter. Caprock Group LLC acquired a new position in Avery Dennison during the third quarter worth $284,000. Oak Thistle LLC acquired a new position in Avery Dennison during the third quarter worth $287,000. Czech National Bank boosted its stake in Avery Dennison by 47.4% during the third quarter. Czech National Bank now owns 14,084 shares of the industrial products company’s stock worth $2,573,000 after buying an additional 4,527 shares during the last quarter. Finally, Connecticut Wealth Management LLC acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $247,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVY shares. Citigroup upped their price target on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. UBS Group upped their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Robert W. Baird increased their target price on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James reissued an “outperform” rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday. Finally, StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Avery Dennison Stock Up 0.9 %

AVY traded up $1.87 on Friday, reaching $219.03. The company’s stock had a trading volume of 556,567 shares, compared to its average volume of 416,428. The stock has a market cap of $17.64 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. The business’s 50 day moving average is $215.71 and its 200 day moving average is $200.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Avery Dennison’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. As a group, research analysts forecast that Avery Dennison Co. will post 9.26 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. Avery Dennison’s dividend payout ratio (DPR) is currently 47.30%.

Insider Transactions at Avery Dennison

In related news, Director Julia A. Stewart sold 5,311 shares of the 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 sale, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction dated 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 sale, the director now directly owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 over the last quarter. Company 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.