Avery Dennison Co. (NYSE:AVY) Stock Holdings Boosted by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 8.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 172,428 shares of the industrial products company's stock after acquiring an additional 13,321 shares during the quarter. Rhumbline Advisers owned about 0.22% of Avery Dennison worth $30,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meyer Handelman Co. grew its holdings in shares of Avery Dennison by 41.7% during the first quarter. Meyer Handelman Co. now owns 32,283 shares of the industrial products company's stock worth $5,745,000 after purchasing an additional 9,501 shares during the last quarter. Parallel Advisors LLC grew its stake in Avery Dennison by 20.7% during the 1st quarter. Parallel Advisors LLC now owns 1,110 shares of the industrial products company's stock worth $198,000 after buying an additional 190 shares during the last quarter. GAMMA Investing LLC grew its stake in Avery Dennison by 19,370.0% during the 1st quarter. GAMMA Investing LLC now owns 428,730 shares of the industrial products company's stock worth $76,301,000 after buying an additional 426,528 shares during the last quarter. Versant Capital Management Inc increased its position in Avery Dennison by 2,090.7% during the first quarter. Versant Capital Management Inc now owns 1,884 shares of the industrial products company's stock worth $335,000 after buying an additional 1,798 shares during the period. Finally, Kera Capital Partners Inc. purchased a new stake in Avery Dennison in the first quarter valued at approximately $214,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Barclays decreased their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Robert W. Baird lowered their price target on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. UBS Group reduced their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus target price of $206.60.

Avery Dennison Stock Performance

NYSE AVY traded up $2.23 during trading hours on Friday, hitting $179.95. The company had a trading volume of 489,651 shares, compared to its average volume of 619,412. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The firm has a market cap of $14.07 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The business has a fifty day simple moving average of $174.23 and a 200-day simple moving average of $183.46.

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 analysts' consensus estimates of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 earnings per share. Equities analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

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

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.