Asset Management One Co. Ltd. Trims Stock Position in Avery Dennison Corporation (NYSE:AVY)

Asset Management One Co. Ltd. cut its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,149 shares of the industrial products company's stock after selling 8,042 shares during the period. Asset Management One Co. Ltd. owned approximately 0.09% of Avery Dennison worth $12,626,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVY. Rothschild Investment LLC increased its position in shares of Avery Dennison by 18.3% during the fourth quarter. Rothschild Investment LLC now owns 440 shares of the industrial products company's stock valued at $82,000 after acquiring an additional 68 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock valued at $143,078,000 after acquiring an additional 134,560 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of Avery Dennison by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock valued at $2,055,000 after acquiring an additional 61 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Avery Dennison by 2.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 31,500 shares of the industrial products company's stock valued at $5,895,000 after acquiring an additional 700 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Avery Dennison during the fourth quarter valued at about $12,730,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on AVY shares. Raymond James Financial lowered their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird lowered their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group started coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $206.60.

Avery Dennison Stock Down 0.3%

Avery Dennison stock traded down $0.45 during trading on Friday, reaching $175.50. The stock had a trading volume of 2,489,558 shares, compared to its average volume of 644,298. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $233.48. The business has a 50 day moving average price of $176.43 and a 200 day moving average price of $180.74. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The stock has a market cap of $13.72 billion, a PE ratio of 20.22, a P/E/G ratio of 2.83 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The firm's revenue was down .1% compared to the same quarter last year. On average, 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. Stockholders of record on Wednesday, June 4th were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is currently 43.32%.

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.