Independent Advisor Alliance Purchases 143 Shares of Avery Dennison Co. (NYSE:AVY)

Independent Advisor Alliance grew its stake in Avery Dennison Co. (NYSE:AVY) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,957 shares of the industrial products company’s stock after acquiring an additional 143 shares during the period. Independent Advisor Alliance’s holdings in Avery Dennison were worth $366,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Johnson Investment Counsel Inc. grew its holdings in shares of Avery Dennison by 17.8% in the 4th quarter. Johnson Investment Counsel Inc. now owns 18,814 shares of the industrial products company’s stock valued at $3,521,000 after acquiring an additional 2,838 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Avery Dennison by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,615 shares of the industrial products company’s stock valued at $1,986,000 after acquiring an additional 701 shares in the last quarter. 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 valued at $23,084,000 after acquiring an additional 99,232 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Avery Dennison by 88.4% in the 4th quarter. AlphaQuest LLC now owns 18,377 shares of the industrial products company’s stock valued at $3,439,000 after acquiring an additional 8,624 shares in the last quarter. Finally, Andra AP fonden grew its holdings in shares of Avery Dennison by 41.0% in the 4th quarter. Andra AP fonden now owns 79,400 shares of the industrial products company’s stock valued at $14,858,000 after acquiring an additional 23,100 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AVY shares. UBS Group decreased their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays cut their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Stock Up 0.1 %

NYSE AVY opened at $179.85 on Wednesday. The company has a 50 day moving average of $185.19 and a 200-day moving average of $198.81. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.07 and a beta of 0.85. 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 Co. has a 1-year low of $174.91 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.96%. Avery Dennison’s payout ratio is 40.37%.

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.