Orion Portfolio Solutions LLC Sells 1,400 Shares of Avery Dennison Co. (NYSE:AVY)

Orion Portfolio Solutions LLC lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 18.7% in the fourth quarter, HoldingsChannel reports. The firm owned 6,100 shares of the industrial products company’s stock after selling 1,400 shares during the period. Orion Portfolio Solutions LLC’s holdings in Avery Dennison were worth $1,141,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares in the last quarter. Meyer Handelman Co. bought a new position in Avery Dennison in the 4th quarter valued at $4,263,000. JPMorgan Chase & Co. boosted its stake in Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares in the last quarter. Unigestion Holding SA bought a new stake in shares of Avery Dennison during the third quarter worth $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at $218,000. 94.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on AVY shares. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Down 3.4 %

NYSE:AVY opened at $170.30 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 12-month low of $168.77 and a 12-month high of $233.48. The stock’s fifty day simple moving average is $181.82 and its 200-day simple moving average is $195.27. The firm has a market capitalization of $13.45 billion, a P/E ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.07%. Avery Dennison’s dividend payout ratio is 40.37%.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.84% of the stock is owned by company insiders.

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.