IFM Investors Pty Ltd Raises Stock Position in Avery Dennison Corporation (NYSE:AVY)

IFM Investors Pty Ltd increased its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,185 shares of the industrial products company's stock after purchasing an additional 3,423 shares during the period. IFM Investors Pty Ltd's holdings in Avery Dennison were worth $4,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank & Trust acquired a new stake in shares of Avery Dennison during the first quarter valued at about $49,000. Grove Bank & Trust increased its position in shares of Avery Dennison by 17.7% during 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 last quarter. Assetmark Inc. increased its position in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Avery Dennison by 49.8% during the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 136 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Avery Dennison by 64.6% during the fourth 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 during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVY shares. BMO Capital Markets dropped their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Jefferies Financial Group began 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. 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. Finally, Truist Financial lowered their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. 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 company has a consensus rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Stock Up 1.0%

Avery Dennison stock traded up $1.81 during trading on Tuesday, reaching $182.11. The stock had a trading volume of 35,356 shares, compared to its average volume of 772,710. 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 $177.68 and a 200 day moving average price of $179.95. 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 $14.24 billion, a PE ratio of 20.98, a P/E/G ratio of 2.94 and a beta of 0.87.

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). The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 EPS. 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 2.06%. 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 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.