Terra Alpha Investments LLC Boosts Stock Position in Avery Dennison Co. (NYSE:AVY)

Terra Alpha Investments LLC grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 10.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,171 shares of the industrial products company’s stock after buying an additional 1,679 shares during the period. Avery Dennison accounts for about 3.3% of Terra Alpha Investments LLC’s holdings, making the stock its 13th largest holding. Terra Alpha Investments LLC’s holdings in Avery Dennison were worth $3,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. Spire Wealth Management lifted its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Avery Dennison by 4.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 184,244 shares of the industrial products company’s stock valued at $34,478,000 after acquiring an additional 7,237 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Avery Dennison during the fourth quarter worth about $2,379,000. Savant Capital LLC grew its holdings in shares of Avery Dennison by 2.4% during the fourth quarter. Savant Capital LLC now owns 3,636 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 86 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Avery Dennison by 135.6% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock worth $27,476,000 after purchasing an additional 84,501 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Trading Down 0.1%

Shares of Avery Dennison stock opened at $179.61 on Tuesday. The firm 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. Avery Dennison Co. has a 52-week low of $157.00 and a 52-week high of $233.48. The company’s 50-day simple moving average is $174.22 and its 200-day simple moving average is $182.97. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the business earned $2.29 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.09%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. Avery Dennison’s payout ratio is 43.32%.

Wall Street Analyst Weigh In

AVY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. Wall Street Zen raised Avery Dennison from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Truist Financial cut their target price on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Raymond James reduced their price target on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird lowered their price objective on shares of Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.60.

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.