Mirae Asset Global Investments Co. Ltd. Sells 82 Shares of Avery Dennison Co. (NYSE:AVY)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,402 shares of the industrial products company’s stock after selling 82 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Avery Dennison were worth $5,742,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Avery Dennison by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock worth $1,683,041,000 after purchasing an additional 24,670 shares in the last quarter. BlackRock Inc. increased its holdings in Avery Dennison by 0.6% during the 1st quarter. BlackRock Inc. now owns 6,555,514 shares of the industrial products company’s stock worth $1,172,978,000 after purchasing an additional 41,032 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after purchasing an additional 493,857 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Avery Dennison by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,242,669 shares of the industrial products company’s stock worth $405,923,000 after purchasing an additional 39,266 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Avery Dennison by 8.1% during the 4th quarter. Lazard Asset Management LLC now owns 2,046,007 shares of the industrial products company’s stock worth $370,326,000 after purchasing an additional 153,211 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. upped their target price on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. UBS Group upped their target price on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Raymond James upped their target price on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup upped their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $221.00.

Avery Dennison Trading Down 1.8 %

NYSE:AVY opened at $211.23 on Monday. The company has a market cap of $17.01 billion, a P/E ratio of 34.01, a P/E/G ratio of 3.25 and a beta of 0.90. The stock’s fifty day moving average price is $214.03 and its two-hundred day moving average price is $198.53. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 earnings per share. As a group, analysts expect that Avery Dennison Co. will post 9.28 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.53%. Avery Dennison’s payout ratio is currently 52.17%.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is currently owned by company insiders.

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.