First Hawaiian Bank Decreases Stock Holdings in Avery Dennison Co. (NYSE:AVY)

First Hawaiian Bank lowered its stake in shares of Avery Dennison Co. (NYSE:AVY) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,016 shares of the industrial products company’s stock after selling 1,319 shares during the period. First Hawaiian Bank’s holdings in Avery Dennison were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the fourth quarter valued at about $37,000. Spire Wealth Management lifted its holdings in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter valued at about $68,000. Assetmark Inc. lifted its holdings in shares of Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVY has been the topic of several recent research reports. Wall Street Zen raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Barclays reduced their price target on shares of Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $226.00 to $216.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group assumed coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They set a “hold” rating and a $175.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.60.

Avery Dennison Stock Performance

Shares of AVY stock opened at $179.72 on Friday. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a 50 day moving average price of $174.14 and a 200 day moving average price of $184.23. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company posted $2.29 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.94 per share. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 annualized dividend and a yield of 2.09%. Avery Dennison’s dividend payout ratio is 43.32%.

Avery Dennison Company 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.