ING Groep NV Sells 7,503 Shares of Avery Dennison Corporation (NYSE:AVY)

ING Groep NV decreased its position in Avery Dennison Corporation (NYSE:AVY - Free Report) by 42.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,259 shares of the industrial products company's stock after selling 7,503 shares during the quarter. ING Groep NV's holdings in Avery Dennison were worth $1,826,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Avery Dennison by 3.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,225,309 shares of the industrial products company's stock worth $790,683,000 after acquiring an additional 150,572 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Avery Dennison by 12.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock worth $409,014,000 after buying an additional 250,359 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Avery Dennison by 4.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,841,520 shares of the industrial products company's stock worth $344,603,000 after buying an additional 71,435 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Avery Dennison by 17.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,582,933 shares of the industrial products company's stock worth $281,715,000 after buying an additional 233,062 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Avery Dennison by 17.9% in the 4th quarter. Northern Trust Corp now owns 1,106,083 shares of the industrial products company's stock worth $206,981,000 after buying an additional 168,311 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVY. Jefferies Financial Group began coverage on shares of Avery Dennison in a report on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price target on the stock. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Barclays cut their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Citigroup boosted their price target on shares of Avery Dennison from $177.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $207.00 price target (down from $216.00) on shares of Avery Dennison in a report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $197.60.

Avery Dennison Stock Performance

NYSE AVY traded up $2.07 during trading on Thursday, hitting $169.69. 735,187 shares of the company's stock traded hands, compared to its average volume of 619,489. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.58 and a beta of 0.88. Avery Dennison Corporation has a 12-month low of $157.00 and a 12-month high of $224.38. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.70 and a current ratio of 1.04. The business has a 50 day moving average of $177.07 and a 200-day moving average of $178.11.

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

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Avery Dennison's dividend payout ratio 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.