Matrix Trust Co Has $104,000 Holdings in Avery Dennison Co. (NYSE:AVY)

Matrix Trust Co raised its stake in Avery Dennison Co. (NYSE:AVY) by 758.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 558 shares of the industrial products company’s stock after buying an additional 493 shares during the period. Matrix Trust Co’s holdings in Avery Dennison were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its position in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank acquired a new stake in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the third quarter worth $39,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Avery Dennison in the 2nd quarter valued at $42,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

AVY opened at $187.93 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The business’s 50-day simple moving average is $196.27 and its 200 day simple moving average is $208.51. The firm has a market capitalization of $15.10 billion, a PE ratio of 22.56, a PEG ratio of 1.52 and a beta of 0.89. Avery Dennison Co. has a 52-week low of $181.99 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. As a group, sell-side analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.87%. Avery Dennison’s dividend payout ratio is presently 42.26%.

Wall Street Analysts Forecast Growth

AVY has been the subject of a number of research analyst reports. BMO Capital Markets decreased their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Bank of America cut their price objective 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Insider Activity

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by 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.