Spire Wealth Management Has $392,000 Position in Avery Dennison Corporation (NYSE:AVY)

Spire Wealth Management raised its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 630.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the industrial products company's stock after buying an additional 1,899 shares during the period. Spire Wealth Management's holdings in Avery Dennison were worth $392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. American National Bank & Trust bought a new position in Avery Dennison during the first quarter valued at about $49,000. Grove Bank & Trust raised its stake in shares of Avery Dennison by 17.7% in the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. lifted its holdings in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the last quarter. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 136 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in Avery Dennison by 64.6% during the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock valued at $79,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AVY shares. Raymond James Financial decreased their price objective on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets decreased their price target on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Wall Street Zen raised Avery Dennison from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. UBS Group cut their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Barclays lowered their target price on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Stock Down 0.1%

Shares of NYSE AVY traded down $0.19 during midday trading on Thursday, reaching $183.24. The company's stock had a trading volume of 339,849 shares, compared to its average volume of 648,655. The stock has a 50 day simple moving average of $177.03 and a 200-day simple moving average of $180.21. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $14.33 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.90 and a beta of 0.87. Avery Dennison Corporation 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 released its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $2.29 EPS. The firm's revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts predict that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.94 per share. The ex-dividend date was Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.05%. Avery Dennison's dividend payout ratio is 43.32%.

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.