Janney Montgomery Scott LLC Buys Shares of 17,977 Avery Dennison Corporation (NYSE:AVY)

Janney Montgomery Scott LLC purchased a new stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,977 shares of the industrial products company's stock, valued at approximately $3,199,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in Avery Dennison during the first quarter valued at approximately $49,000. Assetmark Inc. increased its position in Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after buying an additional 136 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Avery Dennison during the fourth quarter worth $79,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Avery Dennison by 64.6% during the 4th quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock valued at $79,000 after acquiring an additional 166 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Down 0.4%

Shares of AVY traded down $0.67 on Thursday, reaching $175.93. The company's stock had a trading volume of 874,553 shares, compared to its average volume of 635,721. The stock has a market capitalization of $13.75 billion, a PE ratio of 20.27, a PEG ratio of 2.87 and a beta of 0.88. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $233.48. The firm has a fifty day moving average of $176.33 and a 200-day moving average of $180.93.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the business posted $2.29 EPS. The company's quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group reduced their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Barclays lowered their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Jefferies Financial Group assumed coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Company 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.