Avery Dennison Co. (NYSE:AVY) Holdings Raised by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in Avery Dennison Co. (NYSE:AVY) by 20.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,110 shares of the industrial products company’s stock after buying an additional 190 shares during the quarter. Parallel Advisors LLC’s holdings in Avery Dennison were worth $198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regents Gate Capital LLP purchased a new stake in Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management lifted its position in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison in the 4th quarter worth approximately $68,000. Assetmark Inc. lifted its position in Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after buying an additional 73 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position 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 worth $77,000 after buying an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $177.64 on Friday. The company has a market capitalization of $13.89 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company’s fifty day moving average price is $174.23 and its 200 day moving average price is $183.46.

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

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s dividend payout ratio (DPR) is 43.32%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Argus downgraded shares of Avery Dennison from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $205.00 to $172.00 in a report on Thursday, April 24th. UBS Group cut their price target on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Barclays cut their price target 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. Finally, BMO Capital Markets cut their price target on shares of Avery Dennison from $226.00 to $216.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.60.

Avery Dennison Profile

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.