Commerce Bank cut its holdings in Avery Dennison Corp (NYSE:AVY) by 1.0% during the 1st quarter, Holdings Channel reports. The firm owned 19,789 shares of the industrial products company’s stock after selling 207 shares during the period. Commerce Bank’s holdings in Avery Dennison were worth $2,236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its stake in shares of Avery Dennison by 561.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,026 shares of the industrial products company’s stock worth $4,297,000 after purchasing an additional 32,277 shares during the last quarter. US Bancorp DE grew its stake in shares of Avery Dennison by 3.1% in the first quarter. US Bancorp DE now owns 45,590 shares of the industrial products company’s stock worth $5,153,000 after purchasing an additional 1,364 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in Avery Dennison by 48.5% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,950 shares of the industrial products company’s stock worth $446,000 after buying an additional 1,290 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Avery Dennison by 36.2% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 40,344 shares of the industrial products company’s stock worth $4,559,000 after buying an additional 10,715 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in Avery Dennison by 6.9% in the first quarter. New York State Common Retirement Fund now owns 213,000 shares of the industrial products company’s stock worth $24,069,000 after buying an additional 13,685 shares during the period. 86.64% of the stock is currently owned by institutional investors.

In other news, insider Georges Gravanis sold 14,000 shares of Avery Dennison stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $110.66, for a total transaction of $1,549,240.00. Following the completion of the transaction, the insider now directly owns 13,898 shares in the company, valued at $1,537,952.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dean A. Scarborough sold 15,420 shares of Avery Dennison stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $109.07, for a total transaction of $1,681,859.40. Following the transaction, the director now owns 29,151 shares of the company’s stock, valued at $3,179,499.57. The disclosure for this sale can be found here. Insiders have sold 238,328 shares of company stock valued at $25,927,220 over the last quarter. Company insiders own 1.30% of the company’s stock.

AVY has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 price objective for the company. in a report on Friday, March 15th. They noted that the move was a valuation call. BMO Capital Markets raised their price objective on shares of Avery Dennison to $114.00 and gave the stock a “market perform” rating in a report on Monday, February 4th. KeyCorp restated a “hold” rating on shares of Avery Dennison in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Avery Dennison from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Loop Capital lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $118.00.

Shares of AVY opened at $101.26 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77. Avery Dennison Corp has a one year low of $82.89 and a one year high of $117.00. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 1.88 and a beta of 1.35.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $1.44 earnings per share. Avery Dennison’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Avery Dennison Corp will post 6.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.29%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.

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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, as well as durable cast and reflective films.

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

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