Entropy Technologies LP Sells 18,416 Shares of Avery Dennison Co. (NYSE:AVY)

Entropy Technologies LP cut its stake in shares of Avery Dennison Co. (NYSE:AVY) by 89.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,152 shares of the industrial products company’s stock after selling 18,416 shares during the quarter. Entropy Technologies LP’s holdings in Avery Dennison were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AVY. Geode Capital Management LLC boosted its position in shares of Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after buying an additional 157,754 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after buying an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. boosted its position in shares of Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after buying an additional 3,118 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Avery Dennison by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock valued at $151,975,000 after buying an additional 1,782 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

AVY has been the topic of several research reports. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets dropped their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America dropped their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $227.15.

Avery Dennison Price Performance

Shares of AVY stock opened at $181.13 on Thursday. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 2.04 and a beta of 0.89. The stock has a fifty day simple moving average of $189.87 and a two-hundred day simple moving average of $204.09. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

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

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

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.