Baird Financial Group Inc. lifted its stake in Avery Dennison Co. (NYSE:AVY – Get Rating) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,728 shares of the industrial products company’s stock after acquiring an additional 626 shares during the quarter. Baird Financial Group Inc. owned approximately 0.07% of Avery Dennison worth $9,906,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Avery Dennison by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 686 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Avery Dennison by 28.5% in the first quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock worth $8,530,000 after purchasing an additional 10,370 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Avery Dennison by 0.5% in the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock worth $2,215,000 after purchasing an additional 65 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Avery Dennison by 61.4% in the first quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock worth $864,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in Avery Dennison by 2.2% in the first quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock worth $1,429,000 after purchasing an additional 173 shares in the last quarter. 89.05% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
AVY has been the subject of a number of recent research reports. Loop Capital decreased their price objective on shares of Avery Dennison from $208.00 to $201.00 in a report on Thursday. StockNews.com began coverage on shares of Avery Dennison in a report on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.88.
Avery Dennison Stock Down 2.2 %
Avery Dennison (NYSE:AVY – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.77% and a return on equity of 34.49%. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.40 earnings per share. As a group, equities research analysts anticipate that Avery Dennison Co. will post 8.98 EPS for the current year.
Avery Dennison Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 6th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.75. Avery Dennison’s dividend payout ratio is currently 38.99%.
Insider Activity
In other news, Director Julia A. Stewart sold 930 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $172.99, for a total transaction of $160,880.70. Following the completion of the transaction, the director now owns 15,962 shares of the company’s stock, valued at $2,761,266.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.
Avery Dennison Company Profile
Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.
Featured Stories
- Get a free copy of the StockNews.com research report on Avery Dennison (AVY)
- FuelCell Is Back To Realistic Valuation
- MarketBeat Week in Review – 6/4 – 6/9
- Cactus Opens The Cash Flow Wellhead With Flexsteel Acquisition
- Tax Software Specialist Vertex In Buy Zone After Base Breakout
- What is a Mutual Fund? How Does it Work?
Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.
