ASR Vermogensbeheer N.V. Buys Shares of 15,694 Avery Dennison Corporation (NYSE:AVY)

Key Points

• ASR Vermogensbeheer N.V. acquired 15,694 shares of Avery Dennison Corporation, valued at approximately $2.79 million, indicating strong institutional interest in the stock.
• Avery Dennison reported a quarterly EPS of $2.42, slightly exceeding analyst expectations, despite a 0.7% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.94, which will be paid on September 17th, representing a yield of 2.2% with a payout ratio of 42.20%.

ASR Vermogensbeheer N.V. purchased a new position in Avery Dennison Corporation (NYSE:AVY - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 15,694 shares of the industrial products company's stock, valued at approximately $2,793,000.

Several other hedge funds also recently modified their holdings of the business. Bayforest Capital Ltd bought a new position in Avery Dennison in the first quarter worth $27,000. Costello Asset Management INC acquired a new position in shares of Avery Dennison in the 1st quarter valued at $40,000. American National Bank & Trust acquired a new stake in shares of Avery Dennison during the 1st quarter valued at about $49,000. Grove Bank & Trust increased its stake in Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares during the period. Finally, Abound Financial LLC bought a new stake in Avery Dennison in the first quarter valued at about $71,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

Shares of NYSE AVY traded up $2.03 during trading on Tuesday, reaching $173.85. The company had a trading volume of 254,964 shares, compared to its average volume of 747,901. The business's 50 day moving average price is $176.85 and its 200-day moving average price is $177.63. Avery Dennison Corporation has a 52 week low of $157.00 and a 52 week high of $224.38. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.70 and a current ratio of 1.04. The stock has a market cap of $13.56 billion, a PE ratio of 19.50, a PEG ratio of 2.63 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.38 by $0.04. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the previous year, the company earned $2.42 EPS. Avery Dennison's revenue was down .7% on a year-over-year basis. Analysts expect that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's payout ratio is presently 42.20%.

Analyst Ratings Changes

A number of research analysts have commented on AVY shares. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays decreased their price target on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $207.00 price target (down previously from $216.00) on shares of Avery Dennison in a research note on Wednesday, July 23rd. Truist Financial reduced their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird dropped their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average price target of $197.60.

Avery Dennison 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.