BNP Paribas Financial Markets Has $35.37 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

BNP Paribas Financial Markets increased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 60.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 189,015 shares of the industrial products company’s stock after purchasing an additional 71,035 shares during the period. BNP Paribas Financial Markets owned approximately 0.24% of Avery Dennison worth $35,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Greenleaf Trust boosted its stake in Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 57 shares during the last quarter. AdvisorNet Financial Inc boosted its position in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 58 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock valued at $2,220,000 after buying an additional 58 shares during the period. RMR Wealth Builders increased its position in shares of Avery Dennison by 5.7% in the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company’s stock valued at $205,000 after buying an additional 59 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in Avery Dennison by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company’s stock worth $2,055,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other 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 transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY opened at $172.90 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company’s fifty day simple moving average is $173.95 and its 200 day simple moving average is $186.93. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The company has a market cap of $13.52 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.07 and a beta of 0.88.

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

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.17%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, June 4th. Avery Dennison’s payout ratio is 43.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Robert W. Baird lowered their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. BMO Capital Markets reduced their target price on shares of Avery Dennison from $226.00 to $216.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. UBS Group dropped their price target on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Jefferies Financial Group initiated coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a “hold” rating and a $175.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $206.60.

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.