Harbour Investments Inc. Sells 74 Shares of Avery Dennison Co. (NYSE:AVY)

Harbour Investments Inc. lessened its position in shares of Avery Dennison Co. (NYSE:AVY) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 427 shares of the industrial products company’s stock after selling 74 shares during the quarter. Harbour Investments Inc.’s holdings in Avery Dennison were worth $80,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after acquiring an additional 29,541 shares in the last quarter. Meyer Handelman Co. bought a new position in shares of Avery Dennison during the 4th quarter worth approximately $4,263,000. JPMorgan Chase & Co. raised its stake in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares in the last quarter. Unigestion Holding SA acquired a new position in Avery Dennison during the 3rd quarter valued at approximately $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Avery Dennison during the 4th quarter valued at approximately $218,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $174.68 on Monday. The company’s fifty day moving average price is $184.59 and its 200 day moving average price is $197.90. Avery Dennison Co. has a 1 year low of $173.02 and a 1 year high of $233.48. The company has a market capitalization of $13.79 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays cut their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. UBS Group cut their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is currently owned by insiders.

About Avery Dennison

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.