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Natixis Advisors LLC Boosts Position in Avery Dennison Corporation (NYSE:AVY)

Avery Dennison logo with Industrials background

Key Points

  • Natixis Advisors LLC has increased its holdings in Avery Dennison Corporation by 8.1%, owning approximately 0.37% of the company, valued at $51.81 million.
  • Avery Dennison reported earnings per share of $2.42 for the last quarter, beating estimates, but its revenue decreased by 0.7% year-over-year.
  • The company has announced a $0.94 quarterly dividend, with a dividend yield of 2.2%, to be paid on September 17th.
  • Five stocks to consider instead of Avery Dennison.

Natixis Advisors LLC grew its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 291,133 shares of the industrial products company's stock after purchasing an additional 21,792 shares during the quarter. Natixis Advisors LLC owned approximately 0.37% of Avery Dennison worth $51,813,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bayforest Capital Ltd acquired a new stake in shares of Avery Dennison in the first quarter valued at approximately $27,000. American National Bank & Trust bought a new position in Avery Dennison during the first quarter worth $49,000. Grove Bank & Trust boosted its position in Avery Dennison by 17.7% during the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after purchasing an additional 59 shares during the period. Abound Financial LLC bought a new stake in shares of Avery Dennison in the first quarter valued at about $71,000. Finally, Headlands Technologies LLC bought a new stake in shares of Avery Dennison in the fourth quarter valued at about $79,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

NYSE AVY traded down $2.01 during trading hours on Friday, hitting $165.76. The company had a trading volume of 765,721 shares, compared to its average volume of 572,953. Avery Dennison Corporation has a 52 week low of $157.00 and a 52 week high of $224.38. The firm has a 50 day simple moving average of $177.95 and a 200 day simple moving average of $178.66. 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 firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.55 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.04. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. Avery Dennison had a return on equity of 33.14% and a net margin of 8.14%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.94 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.3%. Avery Dennison's payout ratio is presently 42.20%.

Wall Street Analysts Forecast Growth

AVY has been the subject of a number of analyst reports. Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Argus cut Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Raymond James Financial increased their target price on Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Robert W. Baird cut their target price on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Truist Financial lowered their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $197.60.

Get Our Latest Analysis on Avery Dennison

Avery Dennison Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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