Machina Capital S.A.S. Purchases 3,190 Shares of Avery Dennison Corporation (NYSE:AVY)

Machina Capital S.A.S. raised its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 148.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,342 shares of the industrial products company's stock after purchasing an additional 3,190 shares during the quarter. Machina Capital S.A.S.'s holdings in Avery Dennison were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AVY. Norges Bank acquired a new stake in Avery Dennison during the fourth quarter valued at approximately $188,643,000. GAMMA Investing LLC raised its stake in shares of Avery Dennison by 19,370.0% in the first quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock valued at $76,301,000 after acquiring an additional 426,528 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Avery Dennison by 905.0% in the first quarter. DAVENPORT & Co LLC now owns 324,095 shares of the industrial products company's stock valued at $57,503,000 after acquiring an additional 291,848 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Avery Dennison in the fourth quarter valued at approximately $51,521,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Avery Dennison by 12.9% in the fourth 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. 94.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AVY shares. Robert W. Baird cut their target price on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. UBS Group dropped 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 report on Monday, April 7th. Raymond James Financial upped their target price on shares of Avery Dennison from $194.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Truist Financial dropped their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $197.60.

Avery Dennison Trading Down 0.4%

Avery Dennison stock traded down $0.75 during mid-day trading on Friday, hitting $177.70. 461,300 shares of the company's stock were exchanged, compared to its average volume of 707,346. The firm has a market capitalization of $13.89 billion, a P/E ratio of 19.94, a PEG ratio of 2.75 and a beta of 0.87. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $224.38. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 1.19. The company's 50 day simple moving average is $179.20 and its 200-day simple moving average is $179.42.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, September 3rd. Avery Dennison's dividend payout ratio (DPR) is presently 42.20%.

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.