Herold Advisors Inc. purchased a new position in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,250 shares of the industrial products company's stock, valued at approximately $1,261,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Analysts LLC acquired a new position in Avery Dennison in the 4th quarter valued at about $30,000. Edmond DE Rothschild Holding S.A. acquired a new position in Avery Dennison in the 4th quarter valued at about $31,000. Exane Derivatives acquired a new position in Avery Dennison in the 1st quarter valued at about $50,000. Mascoma Wealth Management LLC raised its stake in Avery Dennison by 60.2% in the 1st quarter. Mascoma Wealth Management LLC now owns 346 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Avery Dennison by 32.1% in the 1st quarter. Signaturefd LLC now owns 346 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 88.83% of the company's stock.
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Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. StockNews.com raised shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $215.00 to $195.00 in a research note on Wednesday, April 27th. Raymond James upped their price objective on shares of Avery Dennison from $185.00 to $200.00 in a research note on Thursday, April 28th. Loop Capital dropped 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. Finally, UBS Group dropped their price objective on shares of Avery Dennison from $195.00 to $180.00 in a research note on Wednesday, July 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.57.
Avery Dennison Trading Up 1.8 %
Shares of NYSE:AVY traded up $3.41 during trading on Monday, reaching $196.70. 3,989 shares of the stock were exchanged, compared to its average volume of 594,135. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.65 and a current ratio of 0.98. Avery Dennison Co. has a 12-month low of $151.62 and a 12-month high of $229.24. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. The firm's 50-day moving average price is $170.78 and its 200 day moving average price is $174.47.
Avery Dennison (NYSE:AVY – Get Rating) last issued its earnings results 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. Avery Dennison had a return on equity of 40.75% and a net margin of 8.48%. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same quarter in the previous year, the business earned $2.25 EPS. The company's revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.93 earnings per share for the current fiscal year.
Avery Dennison Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders 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 yield of 1.53%. The ex-dividend date is Tuesday, September 6th. Avery Dennison's dividend payout ratio is presently 32.79%.
Avery Dennison Profile
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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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