Hennion & Walsh Asset Management Inc. Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 8.9% during the first quarter, Holdings Channel.com reports. The firm owned 5,480 shares of the industrial products company’s stock after selling 536 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Avery Dennison were worth $1,223,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AVY. QRG Capital Management Inc. lifted its holdings in shares of Avery Dennison by 30.7% in the 4th quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock valued at $744,000 after acquiring an additional 864 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $1,213,000. UBS Group AG boosted its holdings in shares of Avery Dennison by 54.1% in the 4th quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock worth $36,675,000 after purchasing an additional 63,716 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Avery Dennison during the 4th quarter valued at approximately $2,715,000. Finally, Norden Group LLC raised its holdings in Avery Dennison by 3.9% during the 4th quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock valued at $814,000 after buying an additional 151 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

AVY opened at $218.65 on Monday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.01 and a beta of 0.91. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 12-month low of $163.83 and a 12-month high of $231.53. The business’s fifty day simple moving average is $224.14 and its 200-day simple moving average is $213.63.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.14. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. On average, equities research analysts anticipate that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.61%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date was Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of analyst reports. Raymond James reiterated an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Robert W. Baird upped their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Argus raised their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Finally, Citigroup raised their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.50.

Insiders Place Their Bets

In other news, SVP Ignacio J. Walker sold 2,206 shares of Avery Dennison stock in a transaction on Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the transaction, the senior vice president now directly owns 7,082 shares in the company, valued at approximately $1,605,489.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Ignacio J. Walker sold 2,206 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $226.70, for a total value of $500,100.20. Following the sale, the senior vice president now directly owns 7,082 shares in the company, valued at approximately $1,605,489.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the transaction, the senior vice president now directly owns 1,577 shares in the company, valued at approximately $359,824.09. The disclosure for this sale can be found here. Insiders sold a total of 12,583 shares of company stock worth $2,856,353 over the last 90 days. Company insiders own 1.10% 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.