4,500 Shares in Avery Dennison Corporation (NYSE:AVY) Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. acquired a new stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 4,500 shares of the industrial products company's stock, valued at approximately $801,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $188,643,000. GAMMA Investing LLC increased its stake in shares of Avery Dennison by 19,370.0% in the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after acquiring an additional 426,528 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Avery Dennison during the 4th quarter worth $51,521,000. Ameriprise Financial Inc. boosted its position in shares of Avery Dennison by 12.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,185,732 shares of the industrial products company's stock valued at $409,014,000 after acquiring an additional 250,359 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Avery Dennison by 1,305.6% in the first quarter. Johnson Investment Counsel Inc. now owns 264,452 shares of the industrial products company's stock valued at $47,065,000 after purchasing an additional 245,638 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays reduced their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Raymond James Financial reduced their target price on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial lowered their price target on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.60.

Avery Dennison Trading Down 0.1%

Shares of AVY stock traded down $0.24 on Tuesday, hitting $179.14. The stock had a trading volume of 956,076 shares, compared to its average volume of 634,149. The company's 50 day moving average price is $175.98 and its 200-day moving average price is $180.97. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48. The firm has a market capitalization of $14.00 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.87 and a beta of 0.88. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.29 EPS. Analysts anticipate that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.94 dividend. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

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.