Headlands Technologies LLC Takes Position in Avery Dennison Co. (NYSE:AVY)

Headlands Technologies LLC bought a new position in shares of Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 421 shares of the industrial products company’s stock, valued at approximately $79,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management grew its position in Avery Dennison by 76.0% in 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 during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after buying an additional 58 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison during the 4th quarter valued at $68,000. Finally, Assetmark Inc. boosted 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.

Avery Dennison Trading Down 3.4 %

NYSE:AVY opened at $170.30 on Monday. The company 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. The stock’s 50 day moving average price is $181.82 and its 200 day moving average price is $194.99. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52 week low of $168.77 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 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%. On average, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders 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 yield of 2.07%. Avery Dennison’s payout ratio is currently 40.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. Citigroup decreased their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. 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 report on Monday, January 6th. Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

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.