First Hawaiian Bank Sells 291 Shares of Avery Dennison Co. (NYSE:AVY)

First Hawaiian Bank reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,335 shares of the industrial products company’s stock after selling 291 shares during the quarter. First Hawaiian Bank’s holdings in Avery Dennison were worth $3,057,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AVY. Larson Financial Group LLC grew its holdings in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the third quarter valued at about $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison during the second quarter worth about $42,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AVY shares. 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. Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $237.60.

Avery Dennison Stock Up 0.5 %

NYSE:AVY traded up $0.98 on Wednesday, reaching $187.67. 378,509 shares of the stock traded hands, compared to its average volume of 644,812. The company’s fifty day simple moving average is $197.84 and its 200 day simple moving average is $209.60. The company has a market capitalization of $15.08 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.52 and a beta of 0.89. Avery Dennison Co. has a 12 month low of $181.99 and a 12 month high of $233.48. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the business earned $2.10 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’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 completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.