Avery Dennison Co. (NYSE:AVY) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its holdings in Avery Dennison Co. (NYSE:AVYFree Report) by 18.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,201 shares of the industrial products company’s stock after selling 974 shares during the quarter. OLD National Bancorp IN’s holdings in Avery Dennison were worth $748,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AVY. Regents Gate Capital LLP acquired a new stake in shares of Avery Dennison during the fourth quarter worth about $37,000. American National Bank & Trust acquired a new stake in shares of Avery Dennison in the 1st quarter worth $49,000. Spire Wealth Management lifted its position in Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the period. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the 4th quarter worth approximately $68,000. Finally, Assetmark Inc. raised its stake in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.1%

Shares of AVY opened at $179.61 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. The firm has a 50 day simple moving average of $174.22 and a 200-day simple moving average of $182.97.

Avery Dennison (NYSE:AVYGet Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the business posted $2.29 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.09%. Avery Dennison’s dividend payout ratio is 43.32%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AVY shares. Raymond James dropped their price objective on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Barclays cut their price target on shares of Avery Dennison from $225.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Robert W. Baird decreased their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, UBS Group lowered their target price on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.60.

Get Our Latest Stock Analysis on AVY

Avery Dennison Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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