Universal Beteiligungs und Servicegesellschaft mbH Sells 2,853 Shares of Avery Dennison Corporation (NYSE:AVY)

Universal Beteiligungs und Servicegesellschaft mbH cut its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,655 shares of the industrial products company's stock after selling 2,853 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.14% of Avery Dennison worth $19,693,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust bought a new position in Avery Dennison during the first quarter worth about $49,000. Grove Bank & Trust lifted its stake 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 position in Avery Dennison during the first quarter worth about $71,000. Headlands Technologies LLC bought a new position in Avery Dennison during the fourth quarter worth about $79,000. Finally, Quarry LP lifted its stake in Avery Dennison by 255.3% during the fourth quarter. Quarry LP now owns 501 shares of the industrial products company's stock worth $94,000 after purchasing an additional 360 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Trading Down 0.4%

Shares of AVY stock traded down $0.75 on Friday, hitting $177.70. The stock had a trading volume of 461,300 shares, compared to its average volume of 761,693. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $224.38. The firm has a market cap of $13.89 billion, a P/E ratio of 19.94, a PEG ratio of 2.52 and a beta of 0.87. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average price of $179.20 and a two-hundred day moving average price of $179.42.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $2.38 by $0.04. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS. As a group, analysts forecast that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $3.76 annualized dividend and a yield of 2.12%. Avery Dennison's dividend payout ratio (DPR) is presently 42.20%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. BMO Capital Markets restated an "outperform" rating and issued a $207.00 price objective (down previously from $216.00) on shares of Avery Dennison in a research report on Wednesday. Truist Financial dropped 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 report on Tuesday, April 22nd. Raymond James Financial boosted their price objective on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Bank of America boosted their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus 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.