Boston Trust Walden Corp Boosts Holdings in Avery Dennison Corporation (NYSE:AVY)

Boston Trust Walden Corp raised its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 294,709 shares of the industrial products company's stock after buying an additional 4,201 shares during the period. Boston Trust Walden Corp owned about 0.38% of Avery Dennison worth $52,449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in Avery Dennison by 9.8% in the fourth quarter. Van ECK Associates Corp now owns 14,521 shares of the industrial products company's stock valued at $2,717,000 after acquiring an additional 1,302 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Avery Dennison by 11.7% during the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock valued at $268,000 after purchasing an additional 150 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Avery Dennison by 127.6% in the 4th quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company's stock valued at $373,000 after purchasing an additional 1,097 shares during the period. CIBC Asset Management Inc boosted its holdings in Avery Dennison by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company's stock worth $3,022,000 after buying an additional 553 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Avery Dennison by 32.4% during the fourth quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company's stock valued at $841,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

AVY stock traded up $1.62 during mid-day trading on Friday, reaching $175.55. The company's stock had a trading volume of 202,946 shares, compared to its average volume of 625,319. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The company's 50 day moving average is $175.72 and its two-hundred day moving average is $181.65. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The stock has a market cap of $13.72 billion, a PE ratio of 20.23, a P/E/G ratio of 2.79 and a beta of 0.88.

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

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.14%. 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. Avery Dennison's payout ratio is currently 43.32%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVY. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. Jefferies Financial Group initiated coverage on Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target for the company. Robert W. Baird dropped their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Argus lowered Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of "Moderate Buy" and an average 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.