DekaBank Deutsche Girozentrale Raises Holdings in Avery Dennison Corporation $AVY

DekaBank Deutsche Girozentrale increased its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,783 shares of the industrial products company's stock after buying an additional 5,349 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.50% of Avery Dennison worth $68,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC increased its holdings in shares of Avery Dennison by 16.6% in the second quarter. Strengthening Families & Communities LLC now owns 408 shares of the industrial products company's stock valued at $73,000 after purchasing an additional 58 shares during the period. Bill Few Associates Inc. lifted its holdings in shares of Avery Dennison by 0.5% during the second quarter. Bill Few Associates Inc. now owns 13,341 shares of the industrial products company's stock worth $2,341,000 after purchasing an additional 67 shares during the period. Diversified Trust Co grew its stake in shares of Avery Dennison by 0.5% during the 2nd quarter. Diversified Trust Co now owns 13,287 shares of the industrial products company's stock worth $2,331,000 after purchasing an additional 71 shares during the period. Forum Financial Management LP increased its holdings in shares of Avery Dennison by 5.6% in the 1st quarter. Forum Financial Management LP now owns 1,384 shares of the industrial products company's stock valued at $246,000 after purchasing an additional 73 shares in the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Avery Dennison by 3.6% in the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company's stock valued at $386,000 after purchasing an additional 76 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVY has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Avery Dennison in a report on Tuesday, October 14th. BMO Capital Markets restated an "outperform" rating and issued a $207.00 price target (down previously from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Citigroup reduced their price objective on Avery Dennison from $191.00 to $177.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Raymond James Financial boosted their target price on Avery Dennison from $194.00 to $200.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, UBS Group dropped their price target on Avery Dennison from $188.00 to $181.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $195.30.

Avery Dennison Trading Up 2.1%

Avery Dennison stock opened at $163.67 on Wednesday. The stock has a 50-day moving average price of $166.42 and a 200 day moving average price of $172.27. Avery Dennison Corporation has a 52 week low of $156.23 and a 52 week high of $220.02. The stock has a market cap of $12.76 billion, a PE ratio of 18.37, a P/E/G ratio of 2.37 and a beta of 0.95. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. Avery Dennison's dividend payout ratio (DPR) is 42.20%.

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.

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