Fruth Investment Management Sells 300 Shares of Avery Dennison Co. (NYSE:AVY)

Fruth Investment Management lessened its stake in shares of Avery Dennison Co. (NYSE:AVY) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,250 shares of the industrial products company’s stock after selling 300 shares during the period. Fruth Investment Management’s holdings in Avery Dennison were worth $348,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Avery Dennison by 8.3% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,455 shares of the industrial products company’s stock worth $1,848,000 after acquiring an additional 1,107 shares during the period. Private Trust Co. NA boosted its holdings in shares of Avery Dennison by 4.3% in the 4th quarter. Private Trust Co. NA now owns 11,180 shares of the industrial products company’s stock valued at $1,734,000 after purchasing an additional 461 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Avery Dennison by 11.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 145,575 shares of the industrial products company’s stock valued at $16,146,000 after acquiring an additional 14,714 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Avery Dennison by 10.8% during the 3rd quarter. Standard Life Aberdeen plc now owns 77,795 shares of the industrial products company’s stock valued at $9,946,000 after acquiring an additional 7,595 shares in the last quarter. Finally, IBM Retirement Fund boosted its holdings in shares of Avery Dennison by 39.0% during the 3rd quarter. IBM Retirement Fund now owns 2,704 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 759 shares in the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.

Shares of AVY opened at $162.93 on Thursday. Avery Dennison Co. has a 12-month low of $76.96 and a 12-month high of $164.11. The business’s fifty day moving average is $153.52 and its 200 day moving average is $132.65. The company has a quick ratio of 0.94, a current ratio of 1.31 and a debt-to-equity ratio of 1.51. The stock has a market cap of $13.59 billion, a P/E ratio of 26.03, a P/E/G ratio of 3.21 and a beta of 0.95.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.41. Avery Dennison had a return on equity of 44.88% and a net margin of 7.80%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the business earned $1.66 EPS. Avery Dennison’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts expect that Avery Dennison Co. will post 6.92 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd were issued a $0.62 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.58. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Tuesday, December 1st. Avery Dennison’s dividend payout ratio (DPR) is currently 37.58%.

In other Avery Dennison news, VP Anne Hill sold 11,427 shares of the firm’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $141.53, for a total transaction of $1,617,263.31. Following the transaction, the vice president now directly owns 17,649 shares in the company, valued at approximately $2,497,862.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter K. Barker sold 10,982 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $142.60, for a total value of $1,566,033.20. Following the transaction, the director now owns 37,478 shares in the company, valued at $5,344,362.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

A number of research analysts have recently issued reports on the company. Loop Capital boosted their price objective on Avery Dennison from $136.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. UBS Group increased their price target on Avery Dennison from $150.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, December 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Avery Dennison from a “neutral” rating to a “buy” rating and increased their price target for the stock from $149.00 to $181.00 in a report on Thursday, January 7th. Smith Barney Citigroup reiterated a “buy” rating on shares of Avery Dennison in a report on Thursday, January 7th. Finally, Robert W. Baird increased their price target on Avery Dennison from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $157.15.

Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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