UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 734,644 shares of the industrial products company's stock after acquiring an additional 10,068 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.91% of Avery Dennison worth $137,474,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in AVY. Nomura Holdings Inc. acquired a new stake in Avery Dennison in the fourth quarter valued at $496,000. Merit Financial Group LLC bought a new stake in Avery Dennison during the fourth quarter valued at $203,000. Running Oak Capital LLC boosted its position in Avery Dennison by 13.5% during the fourth quarter. Running Oak Capital LLC now owns 63,830 shares of the industrial products company's stock valued at $11,945,000 after acquiring an additional 7,572 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Avery Dennison during the 4th quarter worth about $11,396,000. Finally, Vontobel Holding Ltd. increased its stake in Avery Dennison by 11.7% in the 4th quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock valued at $268,000 after buying an additional 150 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVY has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. UBS Group lowered their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Barclays lowered their price objective 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. 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 research note on Friday, April 25th. Finally, Argus downgraded shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. 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 presently has an average rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Stock Up 0.4%

NYSE:AVY traded up $0.69 during midday trading on Thursday, reaching $178.45. 84,378 shares of the stock traded hands, compared to its average volume of 611,215. Avery Dennison Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The business has a 50-day moving average of $174.09 and a two-hundred day moving average of $184.40. 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 stock has a market capitalization of $13.95 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly 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 company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The company's quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $2.29 EPS. On average, equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company 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 dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's payout ratio is 43.32%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by company insiders.

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.