Manning & Napier Advisors LLC Purchases 5,326 Shares of Avery Dennison Corporation (NYSE:AVY)

Manning & Napier Advisors LLC raised its holdings in Avery Dennison Corporation (NYSE:AVY - Free Report) by 89.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,272 shares of the industrial products company's stock after purchasing an additional 5,326 shares during the quarter. Manning & Napier Advisors LLC's holdings in Avery Dennison were worth $2,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. American National Bank & Trust purchased a new position in shares of Avery Dennison during the 1st quarter valued at $49,000. Grove Bank & Trust lifted its position in shares of Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. lifted its position in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after buying an additional 73 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Avery Dennison by 49.8% during the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after buying an additional 136 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Avery Dennison by 64.6% during the 4th quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock valued at $79,000 after buying an additional 166 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE:AVY traded down $0.67 on Thursday, hitting $175.93. The company's stock had a trading volume of 875,013 shares, compared to its average volume of 636,918. The company has a 50-day simple moving average of $176.43 and a 200 day simple moving average of $180.74. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a market capitalization of $13.75 billion, a PE ratio of 20.27, a PEG ratio of 2.83 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 released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same period in the previous year, the business earned $2.29 EPS. The business's revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.14%. Avery Dennison's dividend payout ratio is 43.32%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays dropped their price objective on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. UBS Group dropped their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Raymond James Financial dropped their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group assumed coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price objective on the stock. Finally, Truist Financial dropped their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.60.

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.