2,560 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Magnetar Financial LLC

Magnetar Financial LLC acquired a new position in Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,560 shares of the industrial products company’s stock, valued at approximately $479,000.

Several other institutional investors also recently modified their holdings of AVY. Raymond James Financial Inc. bought a new stake in shares of Avery Dennison in the fourth quarter worth $51,521,000. Geode Capital Management LLC boosted its position in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Avery Dennison by 21.4% during the fourth 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Avery Dennison by 411.3% during the fourth 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 during the last quarter. Finally, World Investment Advisors LLC boosted its position in Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after acquiring an additional 88,491 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s 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 sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.84% of the stock is currently owned by insiders.

Avery Dennison Trading Down 1.3 %

AVY opened at $174.68 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a fifty-two week low of $173.02 and a fifty-two week high of $233.48. The firm has a market capitalization of $13.79 billion, a PE ratio of 20.03, a P/E/G ratio of 2.07 and a beta of 0.85. The company’s 50-day moving average is $184.59 and its 200 day moving average is $198.04.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. 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 2.02%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVY. Bank of America cut 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. Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Barclays cut their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Finally, UBS Group dropped their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

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.