Huntington National Bank Buys 308 Shares of Avery Dennison Co. (NYSE:AVY)

Huntington National Bank grew its stake in Avery Dennison Co. (NYSE:AVY) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,639 shares of the industrial products company’s stock after acquiring an additional 308 shares during the quarter. Huntington National Bank’s holdings in Avery Dennison were worth $681,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison in the 4th quarter valued at $37,000. Spire Wealth Management grew its holdings in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the 4th quarter valued at approximately $68,000. AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 58 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 73 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on AVY shares. UBS Group cut their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James restated an “outperform” rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup cut their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Avery Dennison Trading Down 3.4 %

Shares of NYSE:AVY opened at $170.30 on Friday. The stock has a market cap of $13.45 billion, a PE ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85. 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 business has a 50 day moving average of $181.82 and a 200-day moving average of $195.27.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

About Avery Dennison

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.