Avery Dennison Co. (NYSE:AVY) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG cut its position in shares of Avery Dennison Co. (NYSE:AVY) by 50.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,204 shares of the industrial products company’s stock after selling 2,240 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Avery Dennison were worth $412,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Avery Dennison during the 4th quarter worth approximately $188,643,000. Raymond James Financial Inc. purchased a new stake in Avery Dennison during the fourth quarter worth approximately $51,521,000. Geode Capital Management LLC increased its position in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after acquiring an additional 134,560 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Avery Dennison by 411.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after acquiring an additional 99,232 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVY has been the subject of several recent research reports. UBS Group lowered their price target on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup reduced their price target on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Performance

AVY stock opened at $170.30 on Friday. The firm has a market cap 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 Co. has a 12-month low of $168.77 and a 12-month high of $233.48. The stock’s 50 day simple moving average is $181.82 and its 200 day simple moving average is $195.27. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last announced its quarterly 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%. As a group, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. The ex-dividend date 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 (DPR) is presently 40.37%.

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.