HB Wealth Management LLC Increases Stock Holdings in Avery Dennison Corporation (NYSE:AVY)

HB Wealth Management LLC raised its position in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 45.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,753 shares of the industrial products company's stock after acquiring an additional 1,802 shares during the period. HB Wealth Management LLC's holdings in Avery Dennison were worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. American National Bank & Trust purchased a new stake in shares of Avery Dennison during the first quarter valued at $49,000. Grove Bank & Trust boosted its stake in shares of 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 purchasing an additional 59 shares during the period. Abound Financial LLC purchased a new stake in shares of Avery Dennison during the first quarter valued at $71,000. Headlands Technologies LLC purchased a new stake in shares of Avery Dennison during the fourth quarter valued at $79,000. Finally, Quarry LP boosted its stake in shares of Avery Dennison by 255.3% during the fourth quarter. Quarry LP now owns 501 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 360 shares during the period. Institutional investors own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVY. 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 note on Monday, April 7th. Robert W. Baird cut their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Bank of America upped their price objective on shares of Avery Dennison from $195.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Barclays lowered their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and an average target price of $197.60.

Avery Dennison Price Performance

AVY stock traded down $2.01 during midday trading on Friday, reaching $165.76. The stock had a trading volume of 765,721 shares, compared to its average volume of 757,605. The company's fifty day simple moving average is $178.18 and its 200 day simple moving average is $178.90. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.59 and a beta of 0.87. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $224.38.

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

Avery Dennison Announces Dividend

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

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.