Avery Dennison Corporation (NYSE:AVY) Stock Position Lowered by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,300 shares of the industrial products company's stock after selling 2,200 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Avery Dennison were worth $5,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. American National Bank & Trust acquired a new position in Avery Dennison in the first quarter valued at approximately $49,000. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison in the fourth quarter valued at approximately $68,000. Assetmark Inc. lifted its holdings in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 136 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Avery Dennison in the fourth quarter valued at approximately $79,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Up 0.7%

Shares of Avery Dennison stock traded up $1.27 during trading hours on Friday, hitting $175.20. 253,209 shares of the company's stock traded hands, compared to its average volume of 625,644. Avery Dennison Corporation has a twelve month low of $157.00 and a twelve month high of $233.48. The company has a market cap of $13.70 billion, a PE ratio of 20.19, a PEG ratio of 2.79 and a beta of 0.88. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The stock has a 50 day simple moving average of $175.72 and a 200-day simple moving average of $181.65.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 EPS. Equities research analysts anticipate that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal 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 given a $0.94 dividend. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date was Wednesday, June 4th. This represents a $3.76 annualized dividend and a yield of 2.15%. Avery Dennison's dividend payout ratio is 43.32%.

Analyst Upgrades and Downgrades

AVY has been the topic of a number of recent analyst reports. Argus cut Avery Dennison from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. BMO Capital Markets decreased their price objective on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. Robert W. Baird reduced their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group dropped their target price on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $206.60.

About Avery Dennison

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.