Avery Dennison Corporation (NYSE:AVY) Shares Purchased by Palisade Capital Management LP

Palisade Capital Management LP raised its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 50.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,052 shares of the industrial products company's stock after acquiring an additional 3,380 shares during the period. Palisade Capital Management LP's holdings in Avery Dennison were worth $1,789,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. HBK Sorce Advisory LLC grew its holdings in shares of Avery Dennison by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock valued at $2,220,000 after purchasing an additional 58 shares during the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Avery Dennison by 5.7% in the fourth quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock worth $206,000 after purchasing an additional 59 shares during the last quarter. 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 valued at $70,000 after acquiring an additional 59 shares during the last quarter. Smith Moore & CO. boosted its position in Avery Dennison by 1.4% during the fourth quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 63 shares during the last quarter. Finally, Assetmark Inc. boosted its position in 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. Institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Down 1.6%

AVY traded down $2.85 on Monday, reaching $180.39. 478,807 shares of the company traded hands, compared to its average volume of 650,801. Avery Dennison Corporation has a one year low of $157.00 and a one year high of $233.48. 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 firm has a fifty day simple moving average of $177.48 and a two-hundred day simple moving average of $180.00. The company has a market cap of $14.10 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.94 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. Avery Dennison's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 EPS. As a group, equities research analysts expect that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.08%. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVY. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Robert W. Baird dropped their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. 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 objective for the company. Truist Financial reduced their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James Financial reduced their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison presently has a consensus 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.