Monte Financial Group LLC Buys 16,560 Shares of Avery Dennison Corporation (NYSE:AVY)

Monte Financial Group LLC lifted its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 291.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,240 shares of the industrial products company's stock after acquiring an additional 16,560 shares during the period. Monte Financial Group LLC's holdings in Avery Dennison were worth $3,800,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AVY. American National Bank & Trust purchased a new position in Avery Dennison during the 1st quarter worth $49,000. VisionPoint Advisory Group LLC purchased a new position in Avery Dennison during the 4th quarter worth $68,000. Grove Bank & Trust grew its stake in Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. grew its stake in Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after buying an additional 73 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 worth $77,000 after buying an additional 136 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Up 0.8%

Shares of AVY opened at $175.41 on Friday. Avery Dennison Corporation has a 52 week low of $157.00 and a 52 week high of $233.48. 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 company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.79 and a beta of 0.88. The stock's 50-day moving average price is $175.84 and its 200-day moving average price is $181.45.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $2.15 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.94 dividend. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.14%. Avery Dennison's dividend payout ratio is presently 43.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AVY. JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $205.00 to $172.00 in a research note on Thursday, April 24th. BMO Capital Markets dropped their target price on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Argus downgraded Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, UBS Group dropped their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus 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.

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