CX Institutional Makes New $118,000 Investment in Avery Dennison Co. (NYSE:AVY)

CX Institutional bought a new position in shares of Avery Dennison Co. (NYSE:AVY) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 663 shares of the industrial products company’s stock, valued at approximately $118,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. American National Bank & Trust acquired a new stake in shares of Avery Dennison during the 1st quarter valued at $49,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison during the 4th quarter valued at $68,000. Assetmark Inc. boosted its holdings in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Avery Dennison by 49.8% during 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, Headlands Technologies LLC acquired a new stake in shares of Avery Dennison during the 4th quarter valued at $79,000. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a “hold” rating and a $175.00 price objective on the stock. Barclays cut their price objective on Avery Dennison from $225.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Robert W. Baird cut their price objective on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating on the stock in a 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. Finally, Argus downgraded Avery Dennison from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.60.

Avery Dennison Stock Performance

AVY stock opened at $176.37 on Tuesday. The stock has a 50-day moving average price of $175.35 and a 200-day moving average price of $181.99. Avery Dennison Co. has a 1-year low of $157.00 and a 1-year high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a market cap of $13.79 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

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

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.94 dividend. The ex-dividend date is Wednesday, June 4th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 2.13%. Avery Dennison’s dividend payout ratio (DPR) is 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.