Hantz Financial Services Inc. Trims Stake in Avery Dennison Co. (NYSE:AVY)

Hantz Financial Services Inc. cut its stake in Avery Dennison Co. (NYSE:AVY) by 84.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,149 shares of the industrial products company’s stock after selling 40,329 shares during the period. Hantz Financial Services Inc.’s holdings in Avery Dennison were worth $1,338,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Avery Dennison by 25.1% during the second quarter. AQR Capital Management LLC now owns 14,058 shares of the industrial products company’s stock valued at $3,074,000 after purchasing an additional 2,819 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Avery Dennison by 10.6% during the 2nd quarter. Millennium Management LLC now owns 68,885 shares of the industrial products company’s stock valued at $15,062,000 after buying an additional 6,627 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Avery Dennison by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,296 shares of the industrial products company’s stock worth $11,435,000 after buying an additional 2,774 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Avery Dennison by 21.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,134 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 201 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Avery Dennison during the 2nd quarter valued at about $2,710,000. 94.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVY has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays lowered their price target 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. Finally, Citigroup cut their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $228.96.

Avery Dennison Stock Up 1.8 %

AVY opened at $185.85 on Friday. Avery Dennison Co. has a twelve month low of $179.20 and a twelve month high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average price of $193.54 and a 200-day moving average price of $206.34. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.38 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Equities research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.89%. Avery Dennison’s payout ratio is presently 42.26%.

Insider Activity at Avery Dennison

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