Biechele Royce Advisors Sells 290 Shares of Avery Dennison Co. (NYSE:AVY)

Biechele Royce Advisors trimmed its holdings in Avery Dennison Co. (NYSE:AVY) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,274 shares of the industrial products company’s stock after selling 290 shares during the quarter. Avery Dennison comprises about 0.7% of Biechele Royce Advisors’ investment portfolio, making the stock its 25th biggest holding. Biechele Royce Advisors’ holdings in Avery Dennison were worth $2,071,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new stake in Avery Dennison during the 4th quarter valued at about $42,000. VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison during the 4th quarter valued at about $42,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 166 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in Avery Dennison during the 1st quarter valued at about $64,000. Finally, Parkside Financial Bank & Trust grew its position in Avery Dennison by 250.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 288 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVY. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Citigroup raised their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday. Stifel Nicolaus started coverage on shares of Avery Dennison in a report on Tuesday. They set a “buy” rating and a $274.60 price target on the stock. Finally, Robert W. Baird raised their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.15.

Avery Dennison Stock Performance

Shares of AVY traded up $1.32 on Thursday, reaching $217.84. The company’s stock had a trading volume of 435,052 shares, compared to its average volume of 440,227. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. The stock has a market capitalization of $17.55 billion, a P/E ratio of 32.04, a PEG ratio of 1.98 and a beta of 0.88. The stock’s 50 day simple moving average is $224.10 and its two-hundred day simple moving average is $214.38. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $231.53.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Research analysts forecast that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.88 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.62%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Ignacio J. Walker sold 2,206 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the sale, the senior vice president now owns 7,082 shares in the company, valued at approximately $1,605,489.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Ignacio J. Walker sold 2,206 shares of Avery Dennison stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the sale, the senior vice president now owns 7,082 shares in the company, valued at $1,605,489.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the sale, the senior vice president now owns 1,577 shares in the company, valued at approximately $359,824.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,583 shares of company stock worth $2,856,353. Company insiders own 1.10% of the company’s stock.

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.