Mirae Asset Global Investments Co. Ltd. Sells 2,149 Shares of Avery Dennison Corporation (NYSE:AVY)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,492 shares of the industrial products company's stock after selling 2,149 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Avery Dennison were worth $1,844,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AVY. Jones Financial Companies Lllp lifted its holdings in shares of Avery Dennison by 64.6% during the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock worth $79,000 after purchasing an additional 166 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Avery Dennison by 15.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,340 shares of the industrial products company's stock worth $251,000 after acquiring an additional 175 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Avery Dennison by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock worth $130,821,000 after acquiring an additional 10,674 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Avery Dennison during the fourth quarter worth about $386,000. Finally, Keybank National Association OH increased its position in shares of Avery Dennison by 26.0% during the fourth quarter. Keybank National Association OH now owns 2,367 shares of the industrial products company's stock worth $443,000 after acquiring an additional 488 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Stock Performance

Shares of AVY stock traded down $2.85 during trading on Monday, reaching $180.39. 478,807 shares of the company's stock traded hands, compared to its average volume of 650,802. The company has a market capitalization of $14.10 billion, a P/E ratio of 20.78, a PEG ratio of 2.94 and a beta of 0.87. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The firm's 50-day moving average is $177.68 and its 200 day moving average is $179.95. Avery Dennison Corporation has a 1 year low of $157.00 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. The business's revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.94 dividend. The ex-dividend date was Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.08%. Avery Dennison's dividend payout ratio is currently 43.32%.

Analyst Ratings Changes

AVY has been the subject of several recent research reports. Truist Financial decreased 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. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an "overweight" rating to a "neutral" rating and reduced 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 price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group reduced 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and an average price target of $206.60.

Avery Dennison 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.