D.A. Davidson & CO. Has $4.91 Million Position in Avery Dennison Corp (AVY)

D.A. Davidson & CO. reduced its stake in shares of Avery Dennison Corp (NYSE:AVY) by 52.8% in the 4th quarter, Holdings Channel reports. The firm owned 42,786 shares of the industrial products company’s stock after selling 47,776 shares during the quarter. D.A. Davidson & CO.’s holdings in Avery Dennison were worth $4,914,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AVY. West Oak Capital LLC raised its position in Avery Dennison by 114.3% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 800 shares during the last quarter. Conning Inc. bought a new position in Avery Dennison during the 3rd quarter worth $200,000. Davidson & Garrard Inc. bought a new position in Avery Dennison during the 3rd quarter worth $202,000. Univest Corp of Pennsylvania bought a new position in shares of Avery Dennison in the 4th quarter worth about $205,000. Finally, Bank of Stockton bought a new position in shares of Avery Dennison in the 4th quarter worth about $206,000. 85.62% of the stock is owned by institutional investors and hedge funds.

Shares of Avery Dennison Corp (NYSE AVY) opened at $119.53 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83. The company has a market capitalization of $10,398.86, a PE ratio of 38.19, a PEG ratio of 2.87 and a beta of 1.20. Avery Dennison Corp has a 12 month low of $78.47 and a 12 month high of $123.67.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. analysts anticipate that Avery Dennison Corp will post 5.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.51%. Avery Dennison’s dividend payout ratio is presently 57.51%.

Several research analysts have recently weighed in on AVY shares. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Loop Capital lifted their price objective on Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird reissued a “buy” rating and issued a $115.00 price objective on shares of Avery Dennison in a research report on Friday, October 27th. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “buy” rating and set a $117.00 price objective for the company in a research report on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $122.75.

In other news, Director Peter K. Barker sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the sale, the director now directly owns 26,703 shares in the company, valued at approximately $3,064,436.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Lori J. Bondar sold 10,855 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $110.88, for a total value of $1,203,602.40. Following the completion of the sale, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,625 shares of company stock valued at $1,758,597. 1.40% of the stock is currently owned by company insiders.

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Avery Dennison Company Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Corp (NYSE:AVY).

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

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