Commonwealth Equity Services LLC increased its holdings in Avery Dennison Co. (NYSE:AVY – Get Rating) by 23.7% in the 1st quarter, Holdings Channel reports. The fund owned 39,952 shares of the industrial products company's stock after buying an additional 7,664 shares during the quarter. Commonwealth Equity Services LLC's holdings in Avery Dennison were worth $6,950,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the business. Wetherby Asset Management Inc. increased its stake in shares of Avery Dennison by 2.2% in the 4th quarter. Wetherby Asset Management Inc. now owns 2,638 shares of the industrial products company's stock worth $571,000 after acquiring an additional 56 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Avery Dennison by 0.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 10,932 shares of the industrial products company's stock worth $2,368,000 after acquiring an additional 58 shares in the last quarter. Grace Capital increased its stake in shares of Avery Dennison by 6.2% in the 4th quarter. Grace Capital now owns 1,023 shares of the industrial products company's stock worth $222,000 after acquiring an additional 60 shares in the last quarter. Resources Management Corp CT ADV increased its stake in shares of Avery Dennison by 0.9% in the 4th quarter. Resources Management Corp CT ADV now owns 7,439 shares of the industrial products company's stock worth $1,611,000 after acquiring an additional 63 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Avery Dennison by 2.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,806 shares of the industrial products company's stock worth $488,000 after acquiring an additional 68 shares in the last quarter. 88.83% of the stock is currently owned by institutional investors.
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Avery Dennison Stock Performance
Shares of AVY stock opened at $190.47 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.98 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $15.56 billion, a PE ratio of 20.82, a P/E/G ratio of 2.74 and a beta of 0.97. The company has a 50 day moving average price of $169.34 and a 200-day moving average price of $174.96. Avery Dennison Co. has a 52 week low of $151.62 and a 52 week high of $229.24.
Avery Dennison (NYSE:AVY – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.27. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Avery Dennison had a net
margin of 8.48% and a return on equity of 40.75%. The firm's revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. As a group, equities research analysts expect that Avery Dennison Co. will post 9.93 earnings per share for the current year.
Avery Dennison Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, September 6th. Avery Dennison's payout ratio is 32.79%.
Analysts Set New Price Targets
AVY has been the subject of a number of analyst reports. BMO Capital Markets restated a "maintains" rating on shares of Avery Dennison in a research note on Thursday, July 28th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $215.00 to $195.00 in a research note on Wednesday, April 27th. Loop Capital reduced their price objective on shares of Avery Dennison from $209.00 to $202.00 and set a "buy" rating for the company in a research note on Wednesday, April 13th. Raymond James restated a "maintains" rating on shares of Avery Dennison in a research note on Thursday, July 28th. Finally, StockNews.com upgraded shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus price target of $205.57.
About Avery Dennison
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Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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