ETF Managers Group LLC Raises Holdings in Avery Dennison Corp (AVY)

ETF Managers Group LLC boosted its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 18.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,249 shares of the industrial products company’s stock after purchasing an additional 191 shares during the period. ETF Managers Group LLC’s holdings in Avery Dennison were worth $112,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AVY. Tradition Capital Management LLC lifted its stake in shares of Avery Dennison by 53.2% in the fourth quarter. Tradition Capital Management LLC now owns 75,880 shares of the industrial products company’s stock valued at $6,816,000 after purchasing an additional 26,346 shares during the period. Financial Counselors Inc. raised its position in Avery Dennison by 23.3% during the fourth quarter. Financial Counselors Inc. now owns 56,691 shares of the industrial products company’s stock worth $5,093,000 after acquiring an additional 10,715 shares during the last quarter. TD Asset Management Inc. raised its position in Avery Dennison by 6.4% during the fourth quarter. TD Asset Management Inc. now owns 473,464 shares of the industrial products company’s stock worth $42,531,000 after acquiring an additional 28,382 shares during the last quarter. Dupont Capital Management Corp raised its position in Avery Dennison by 4.5% during the fourth quarter. Dupont Capital Management Corp now owns 43,328 shares of the industrial products company’s stock worth $3,892,000 after acquiring an additional 1,882 shares during the last quarter. Finally, Eads & Heald Wealth Management raised its position in Avery Dennison by 21.7% during the fourth quarter. Eads & Heald Wealth Management now owns 14,200 shares of the industrial products company’s stock worth $1,276,000 after acquiring an additional 2,535 shares during the last quarter. 84.32% of the stock is currently owned by institutional investors.

A number of equities analysts have issued reports on AVY shares. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $110.00 to $105.00 in a research report on Wednesday, October 24th. BMO Capital Markets set a $98.00 target price on shares of Avery Dennison and gave the stock a “hold” rating in a research report on Thursday, October 25th. They noted that the move was a valuation call. UBS Group set a $135.00 target price on shares of Avery Dennison and gave the stock a “buy” rating in a research report on Tuesday, November 20th. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research report on Tuesday, October 23rd. Finally, Citigroup cut their target price on shares of Avery Dennison from $122.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $119.50.

In other news, Director Julia A. Stewart sold 5,027 shares of Avery Dennison stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $104.19, for a total transaction of $523,763.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 2,000 shares of Avery Dennison stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total transaction of $186,000.00. Following the sale, the director now owns 17,293 shares of the company’s stock, valued at $1,608,249. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,027 shares of company stock valued at $918,783. Insiders own 1.30% of the company’s stock.

Shares of AVY opened at $104.41 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 1.85. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. Avery Dennison Corp has a 12-month low of $82.89 and a 12-month high of $120.41.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. Avery Dennison had a net margin of 6.53% and a return on equity of 52.22%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share. As a group, research analysts anticipate that Avery Dennison Corp will post 6.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.99%. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.

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Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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