Smithbridge Asset Management Inc. DE purchased a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,603 shares of the industrial products company's stock, valued at approximately $1,353,000.
Other institutional investors and hedge funds have also modified their holdings of the company. American National Bank & Trust acquired a new stake in Avery Dennison during the first quarter worth about $49,000. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison during the fourth quarter worth about $68,000. Assetmark Inc. grew its stake in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after buying an additional 73 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Avery Dennison by 49.8% during the fourth 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 in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Avery Dennison during the fourth quarter worth about $79,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.
Avery Dennison Trading Down 2.8%
NYSE:AVY traded down $4.94 during mid-day trading on Friday, hitting $174.40. 316,009 shares of the company's stock were exchanged, compared to its average volume of 623,721. The company has a 50 day simple moving average of $174.70 and a 200-day simple moving average of $182.72. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. 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 capitalization of $13.63 billion, a P/E ratio of 20.00, a PEG ratio of 2.07 and a beta of 0.88.
Avery Dennison (NYSE:AVY - Get Free Report) last posted 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 return on equity of 33.06% and a net margin of 8.05%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm's quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.
Avery Dennison Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.94 dividend. The ex-dividend date is Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.16%. Avery Dennison's dividend payout ratio (DPR) is 43.32%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on AVY shares. Wall Street Zen upgraded shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. BMO Capital Markets reduced their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Barclays reduced their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Raymond James reduced their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average price target of $206.60.
View Our Latest Stock Analysis on Avery Dennison
About Avery Dennison
(
Free Report)
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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