Mn Services Vermogensbeheer B.V. Increases Stake in Avery Dennison Co. (NYSE:AVY)

Mn Services Vermogensbeheer B.V. grew its stake in Avery Dennison Co. (NYSE:AVY – Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,600 shares of the industrial products company’s stock after purchasing an additional 1,200 shares during the period. Mn Services Vermogensbeheer B.V. owned about 0.05% of Avery Dennison worth $7,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of Avery Dennison by 434.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 139 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 113 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Avery Dennison during the fourth quarter worth approximately $30,000. Eagle Bay Advisors LLC acquired a new stake in Avery Dennison in the second quarter valued at approximately $33,000. Spire Wealth Management increased its position in shares of Avery Dennison by 98.4% in the fourth quarter. Spire Wealth Management now owns 246 shares of the industrial products company’s stock valued at $44,000 after buying an additional 122 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Avery Dennison during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 90.27% of the company’s stock.

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Avery Dennison Stock Up 1.1 %

Shares of AVY opened at $179.86 on Friday. The stock has a fifty day simple moving average of $169.22 and a two-hundred day simple moving average of $176.40. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $14.52 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.82 and a beta of 0.96. Avery Dennison Co. has a 52-week low of $157.28 and a 52-week high of $204.37.

Avery Dennison (NYSE:AVY – Get Free Report) last issued its earnings results on Wednesday, April 26th. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.04. Avery Dennison had a net margin of 7.77% and a return on equity of 34.49%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm earned $2.40 earnings per share. Avery Dennison’s quarterly revenue was down 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Avery Dennison Co. will post 8.96 EPS for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th were given a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $3.24 dividend on an annualized basis and a yield of 1.80%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.75. Avery Dennison’s payout ratio is currently 38.99%.

Analysts Set New Price Targets

AVY has been the topic of several research analyst reports. Bank of America dropped their target price on shares of Avery Dennison from $207.00 to $189.00 in a research report on Monday. StockNews.com started coverage on Avery Dennison in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Loop Capital lowered their price target on Avery Dennison from $208.00 to $201.00 in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $208.88.

Insider Activity

In related news, Director Julia A. Stewart sold 930 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $172.99, for a total value of $160,880.70. Following the sale, the director now directly owns 15,962 shares in the company, valued at approximately $2,761,266.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

About Avery Dennison

(Free Report)

Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.

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