Bank of New York Mellon Corp Has $133.26 Million Holdings in Avery Dennison Corporation (NYSE:AVY)

Bank of New York Mellon Corp lowered its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,789 shares of the industrial products company's stock after selling 15,802 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.95% of Avery Dennison worth $133,262,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. HBK Sorce Advisory LLC increased its position 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 worth $2,220,000 after purchasing an additional 58 shares in the last quarter. Baker Avenue Asset Management LP increased its position in Avery Dennison by 5.7% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 59 shares in the last quarter. Grove Bank & Trust increased its position in Avery Dennison by 17.7% in the 1st 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 in the last quarter. Smith Moore & CO. increased its position in Avery Dennison by 1.4% in the 4th 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 in the last quarter. Finally, Assetmark Inc. increased its position in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

AVY has been the subject of several research reports. UBS Group lowered their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. cut 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 report on Thursday, April 24th. Barclays lowered their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Raymond James Financial lowered their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and an average price target of $196.90.

Avery Dennison Trading Down 1.3%

NYSE AVY traded down $2.43 during trading on Friday, reaching $182.20. 487,015 shares of the stock traded hands, compared to its average volume of 650,929. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.55 and a beta of 0.87. The stock's 50-day moving average price is $178.65 and its 200 day moving average price is $179.91. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. Analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.06%. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is currently 43.32%.

About Avery Dennison

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.