Sky Investment Group LLC Buys 110 Shares of Avery Dennison Co. (NYSE:AVY)

Sky Investment Group LLC raised its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,805 shares of the industrial products company’s stock after buying an additional 110 shares during the quarter. Sky Investment Group LLC’s holdings in Avery Dennison were worth $2,770,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Diversify Wealth Management LLC raised its position in shares of Avery Dennison by 46.4% in the 4th quarter. Diversify Wealth Management LLC now owns 2,595 shares of the industrial products company’s stock worth $480,000 after purchasing an additional 823 shares during the last quarter. HB Wealth Management LLC raised its holdings in Avery Dennison by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 3,951 shares of the industrial products company’s stock worth $739,000 after buying an additional 76 shares during the last quarter. Albert D Mason Inc. grew its holdings in shares of Avery Dennison by 1.0% during the fourth quarter. Albert D Mason Inc. now owns 7,409 shares of the industrial products company’s stock valued at $1,386,000 after buying an additional 75 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Avery Dennison during the fourth quarter valued at approximately $203,000. Finally, Avanza Fonder AB purchased a new position in Avery Dennison in the 4th quarter worth approximately $1,199,000. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays reduced their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, UBS Group lowered their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.05.

Avery Dennison Stock Down 0.1 %

AVY opened at $191.07 on Tuesday. Avery Dennison Co. has a 1-year low of $181.99 and a 1-year high of $233.48. The firm’s 50 day simple moving average is $194.80 and its two-hundred day simple moving average is $207.61. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $15.35 billion, a PE ratio of 22.94, a PEG ratio of 1.29 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for 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%. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 earnings per share. As a group, equities analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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.