NBC Securities Inc. Purchases 1,900 Shares of Avery Dennison Co. (NYSE:AVY)

NBC Securities Inc. lifted its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 95,000.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,902 shares of the industrial products company's stock after buying an additional 1,900 shares during the quarter. NBC Securities Inc.'s holdings in Avery Dennison were worth $338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. HBK Sorce Advisory LLC grew its position in shares of Avery Dennison by 0.5% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock worth $2,220,000 after buying an additional 58 shares in the last quarter. Baker Avenue Asset Management LP grew its position in shares of Avery Dennison by 5.7% during the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock worth $206,000 after buying an additional 59 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock worth $2,055,000 after buying an additional 61 shares in the last quarter. Smith Moore & CO. grew its position in shares of Avery Dennison by 1.4% during the 4th quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company's stock worth $883,000 after buying an additional 63 shares in the last quarter. Finally, Rothschild Investment LLC grew its position in shares of Avery Dennison by 18.3% during the 4th quarter. Rothschild Investment LLC now owns 440 shares of the industrial products company's stock worth $82,000 after buying an additional 68 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $179.95 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market cap of $14.07 billion, a PE ratio of 20.64, a P/E/G ratio of 2.07 and a beta of 0.88. The business has a 50-day simple moving average of $174.24 and a two-hundred day simple moving average of $183.34. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued 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). The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Avery Dennison's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 EPS. As a group, equities analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVY. 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 report on Monday, April 7th. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and cut their target price for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Raymond James cut their target price on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Barclays cut their target price on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.