Crossmark Global Holdings Inc. cut its stake in shares of Avery Dennison Corp (NYSE:AVY) by 40.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,823 shares of the industrial products company’s stock after selling 4,631 shares during the period. Crossmark Global Holdings Inc.’s holdings in Avery Dennison were worth $613,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC raised its position in Avery Dennison by 12.5% during the fourth quarter. Cerebellum GP LLC now owns 1,978 shares of the industrial products company’s stock valued at $178,000 after buying an additional 219 shares during the period. IFM Investors Pty Ltd raised its position in Avery Dennison by 5.9% during the fourth quarter. IFM Investors Pty Ltd now owns 5,577 shares of the industrial products company’s stock valued at $501,000 after buying an additional 312 shares during the period. State of Alaska Department of Revenue raised its position in Avery Dennison by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 18,243 shares of the industrial products company’s stock valued at $1,637,000 after buying an additional 408 shares during the period. Advisor Partners LLC raised its position in Avery Dennison by 15.4% during the fourth quarter. Advisor Partners LLC now owns 3,208 shares of the industrial products company’s stock valued at $288,000 after buying an additional 427 shares during the period. Finally, Ipswich Investment Management Co. Inc. acquired a new position in Avery Dennison during the fourth quarter valued at $49,000. 84.32% of the stock is currently owned by institutional investors.

In related news, Director Julia A. Stewart sold 5,027 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $104.19, for a total transaction of $523,763.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter K. Barker sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $104.51, for a total value of $209,020.00. Following the sale, the director now owns 29,769 shares of the company’s stock, valued at approximately $3,111,158.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,027 shares of company stock valued at $918,783. 1.30% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on AVY shares. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. UBS Group set a $125.00 price target on Avery Dennison and gave the company a “buy” rating in a research report on Friday, January 18th. BMO Capital Markets upped their target price on Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research report on Monday, February 4th. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $110.00 to $105.00 in a research report on Wednesday, October 24th. Finally, ValuEngine raised Avery Dennison from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $119.50.

Shares of AVY stock opened at $104.41 on Thursday. 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 $120.41. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.24 and a beta of 1.36.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. Avery Dennison had a return on equity of 52.22% and a net margin of 6.53%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.33 EPS. Equities research analysts expect that Avery Dennison Corp will post 6.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, March 5th. This represents a $2.08 annualized dividend and a dividend yield of 1.99%. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.

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Avery Dennison Profile

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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