Figure 8 Investment Strategies LLC Has $1.40 Million Position in Avery Dennison Corporation (NYSE:AVY)

Figure 8 Investment Strategies LLC boosted its position in Avery Dennison Corporation (NYSE:AVY) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,889 shares of the industrial products company’s stock after buying an additional 83 shares during the period. Avery Dennison comprises about 1.5% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 27th biggest holding. Figure 8 Investment Strategies LLC’s holdings in Avery Dennison were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AVY. American National Bank & Trust bought a new position in shares of Avery Dennison during the first quarter worth approximately $49,000. Grove Bank & Trust increased its stake in Avery Dennison by 17.7% during the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 59 shares during the period. Assetmark Inc. increased its stake in 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 acquiring an additional 73 shares during the period. Farther Finance Advisors LLC raised its holdings in Avery Dennison by 49.8% in the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 136 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Avery Dennison by 64.6% during the 4th quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 166 shares during the period. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AVY. Truist Financial decreased 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. Jefferies Financial Group began coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They issued a “hold” rating and a $175.00 target price on the stock. Wall Street Zen upgraded Avery Dennison from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $205.00 to $172.00 in a report on Thursday, April 24th. Finally, Barclays reduced their target price on shares of Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.60.

Avery Dennison Trading Up 0.8%

NYSE:AVY opened at $175.41 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68. Avery Dennison Corporation has a one year low of $157.00 and a one year high of $233.48. The company has a market cap of $13.71 billion, a PE ratio of 20.21, a PEG ratio of 2.81 and a beta of 0.88. The firm has a 50-day moving average of $175.84 and a 200-day moving average of $181.14.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the company posted $2.29 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.94 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison’s payout ratio is currently 43.32%.

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.