MML Investors Services LLC raised its position in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,172 shares of the industrial products company’s stock after purchasing an additional 190 shares during the period. MML Investors Services LLC’s holdings in Avery Dennison were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in AVY. Pinnacle Financial Partners Inc. purchased a new stake in shares of Avery Dennison during the third quarter worth $33,000. Eagle Bay Advisors LLC purchased a new stake in Avery Dennison during the second quarter valued at about $33,000. Hanson & Doremus Investment Management raised its position in Avery Dennison by 494.3% during the third quarter. Hanson & Doremus Investment Management now owns 208 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 173 shares in the last quarter. Old North State Trust LLC purchased a new stake in Avery Dennison during the third quarter valued at about $48,000. Finally, CoreCap Advisors LLC purchased a new stake in Avery Dennison during the second quarter valued at about $58,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AVY. Raymond James raised their price objective on Avery Dennison from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, January 25th. Citigroup raised their target price on Avery Dennison from $204.00 to $216.00 in a research note on Wednesday, January 4th. BMO Capital Markets cut their target price on Avery Dennison from $240.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, February 6th. Truist Financial cut their target price on Avery Dennison from $229.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, December 15th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $207.10.
Insider Buying and Selling
Avery Dennison Trading Up 1.0 %
NYSE:AVY opened at $183.33 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.63 and a debt-to-equity ratio of 1.23. Avery Dennison Co. has a 12 month low of $151.62 and a 12 month high of $204.37. The company has a market cap of $14.82 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.83 and a beta of 0.98. The company has a 50 day simple moving average of $185.33 and a two-hundred day simple moving average of $181.54.
Avery Dennison (NYSE:AVY – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.45). Avery Dennison had a net margin of 8.38% and a return on equity of 38.05%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm earned $2.13 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Research analysts forecast that Avery Dennison Co. will post 9.27 earnings per share for the current year.
Avery Dennison Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, February 28th. Avery Dennison’s dividend payout ratio is currently 32.57%.
Avery Dennison Company Profile
Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label and Graphic Materials, Retail Branding and Information Solutions, and Industrial and Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.
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