Mirae Asset Global Investments Co. Ltd. Has $1.84 Million Holdings in Avery Dennison Corporation (NYSE:AVY)

Mirae Asset Global Investments Co. Ltd. cut its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 17.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 reporting period.

Other hedge funds have also modified their holdings of the company. American National Bank & Trust acquired a new position in shares of Avery Dennison in the 1st quarter worth approximately $49,000. Grove Bank & Trust increased its holdings in 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 purchasing an additional 59 shares in the last quarter. Assetmark Inc. increased its holdings in 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 purchasing an additional 73 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in 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 purchasing an additional 136 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Avery Dennison during the 4th quarter valued at $79,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Trading Down 0.1%

AVY traded down $0.19 during mid-day trading on Friday, reaching $183.24. The stock had a trading volume of 339,849 shares, compared to its average volume of 651,493. Avery Dennison Corporation has a 52 week low of $157.00 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03. The stock has a market capitalization of $14.33 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.94 and a beta of 0.87. The firm's fifty day simple moving average is $177.48 and its two-hundred day simple moving average is $180.04.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly 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 company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm's revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.94 dividend. 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 2.05%. The ex-dividend date was Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Truist Financial dropped 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. Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Argus cut Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Raymond James Financial decreased their price objective 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. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average target price 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.