Fort L.P. Increases Holdings in Avery Dennison Corp (AVY)

Fort L.P. raised its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,939 shares of the industrial products company’s stock after buying an additional 101 shares during the period. Fort L.P.’s holdings in Avery Dennison were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Penserra Capital Management LLC bought a new position in Avery Dennison during the 4th quarter worth $40,000. Bremer Trust National Association bought a new position in Avery Dennison during the 4th quarter worth $42,000. Ipswich Investment Management Co. Inc. bought a new position in Avery Dennison during the 4th quarter worth $49,000. Bessemer Group Inc. increased its position in Avery Dennison by 199.2% during the 4th quarter. Bessemer Group Inc. now owns 754 shares of the industrial products company’s stock worth $68,000 after buying an additional 502 shares during the period. Finally, Rockland Trust Co. bought a new position in Avery Dennison during the 4th quarter worth $80,000. 84.50% of the stock is owned by institutional investors and hedge funds.

AVY stock opened at $110.12 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 1.85. Avery Dennison Corp has a fifty-two week low of $82.89 and a fifty-two week high of $116.35. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.40 and a beta of 1.39.



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 the Zacks’ consensus estimate of $1.50 by $0.02. Avery Dennison had a return on equity of 52.22% and a net margin of 6.53%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the business earned $1.33 earnings per share. Avery Dennison’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Avery Dennison Corp will post 6.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, March 5th. Avery Dennison’s payout ratio is currently 34.32%.

In related news, Director Julia A. Stewart sold 5,027 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $104.19, for a total value of $523,763.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Georges Gravanis sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $110.66, for a total value of $1,549,240.00. Following the completion of the transaction, the insider now owns 13,898 shares in the company, valued at approximately $1,537,952.68. The disclosure for this sale can be found here. Insiders sold 235,664 shares of company stock worth $25,593,024 in the last 90 days. 1.30% of the stock is owned by company insiders.

AVY has been the topic of several recent research reports. Zacks Investment Research cut Avery Dennison from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. BMO Capital Markets increased their price objective on Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research report on Monday, February 4th. UBS Group set a $125.00 price objective on Avery Dennison and gave the stock a “buy” rating in a research report on Friday, January 18th. ValuEngine upgraded Avery Dennison from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Citigroup lowered their price objective on Avery Dennison from $122.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, January 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $119.50.

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About Avery Dennison

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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