Great Lakes Advisors LLC grew its holdings in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 103.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 236,712 shares of the industrial products company's stock after purchasing an additional 120,318 shares during the quarter. Great Lakes Advisors LLC's holdings in Avery Dennison were worth $41,181,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AVY. Capital Analysts LLC purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $30,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $31,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $39,000. Exane Derivatives acquired a new position in shares of Avery Dennison in the 1st quarter valued at $50,000. Finally, Mascoma Wealth Management LLC increased its position in shares of 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 acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 88.83% of the company's stock.
Get Avery Dennison alerts:Avery Dennison Stock Performance
AVY traded down $0.14 during midday trading on Thursday, hitting $192.98. 2,946 shares of the company were exchanged, compared to its average volume of 463,930. The company's 50 day simple moving average is $169.89 and its 200 day simple moving average is $175.09. The company has a current ratio of 0.98, a quick ratio of 0.65 and a debt-to-equity ratio of 1.29. Avery Dennison Co. has a 1-year low of $151.62 and a 1-year high of $229.24. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.74 and a beta of 0.97.
Avery Dennison (NYSE:AVY – Get Rating) last posted its earnings results on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.27. Avery Dennison had a net margin of 8.48% and a return on equity of 40.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company posted $2.25 EPS. The company's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Avery Dennison Co. will post 9.93 earnings per share for the current year.Avery Dennison Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, September 6th. Avery Dennison's payout ratio is currently 32.79%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on AVY shares. BMO Capital Markets reissued a "maintains" rating on shares of Avery Dennison in a research report on Thursday, July 28th. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and cut their target price for the company from $215.00 to $195.00 in a research report on Wednesday, April 27th. Raymond James reissued a "maintains" rating on shares of Avery Dennison in a research report on Thursday, July 28th. Credit Suisse Group cut their target price on Avery Dennison from $195.00 to $188.00 in a research report on Wednesday, April 20th. Finally, UBS Group cut their target price on Avery Dennison from $195.00 to $180.00 in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $205.57.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Avery Dennison (AVY)
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