Rhumbline Advisers Has $30.69 Million Stake in Avery Dennison Co. (NYSE:AVY)

Rhumbline Advisers grew its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,428 shares of the industrial products company's stock after buying an additional 13,321 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of Avery Dennison worth $30,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $496,000. Renaissance Technologies LLC acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $11,396,000. Vontobel Holding Ltd. lifted its position in shares of Avery Dennison by 11.7% during the fourth quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock worth $268,000 after purchasing an additional 150 shares in the last quarter. DoubleLine ETF Adviser LP acquired a new position in shares of Avery Dennison during the fourth quarter worth approximately $1,702,000. Finally, Van ECK Associates Corp lifted its position in shares of Avery Dennison by 9.8% during the fourth quarter. Van ECK Associates Corp now owns 14,521 shares of the industrial products company's stock worth $2,717,000 after purchasing an additional 1,302 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Trading Up 1.3%

NYSE:AVY traded up $2.23 during trading hours on Friday, hitting $179.95. The stock had a trading volume of 489,651 shares, compared to its average volume of 620,405. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. 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 price-to-earnings ratio of 20.64, a P/E/G ratio of 2.07 and a beta of 0.88. The business's 50 day moving average is $174.24 and its 200-day moving average is $183.13.

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 the consensus estimate of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors 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 of this dividend is Wednesday, June 4th. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVY shares. Jefferies Financial Group started coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 target price on the stock. Barclays cut their price objective on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Robert W. Baird cut their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.