IFM Investors Pty Ltd Grows Stake in Avery Dennison Co. (NYSE:AVY)

IFM Investors Pty Ltd lifted its position in Avery Dennison Co. (NYSE:AVY – Get Rating) by 24.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,852 shares of the industrial products company’s stock after buying an additional 2,691 shares during the period. IFM Investors Pty Ltd’s holdings in Avery Dennison were worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in Avery Dennison by 3.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 32,288 shares of the industrial products company’s stock valued at $6,992,000 after purchasing an additional 985 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in Avery Dennison during the fourth quarter valued at $246,000. Illinois Municipal Retirement Fund lifted its position in Avery Dennison by 57.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 3,784 shares of the industrial products company’s stock valued at $820,000 after purchasing an additional 1,387 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Avery Dennison during the fourth quarter valued at $2,743,000. Finally, CWM LLC purchased a new position in Avery Dennison during the fourth quarter valued at $509,000. 88.83% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Trading Down 0.1 %

Shares of AVY stock opened at $193.29 on Friday. Avery Dennison Co. has a 12-month low of $151.62 and a 12-month high of $229.24. The company has a current ratio of 0.98, a quick ratio of 0.65 and a debt-to-equity ratio of 1.29. The stock’s 50-day moving average price is $170.78 and its 200-day moving average price is $174.89. The stock has a market capitalization of $15.71 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97.

Avery Dennison (NYSE:AVY – Get Rating) last issued its earnings results on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.27. Avery Dennison had a return on equity of 40.75% and a net margin of 8.48%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Avery Dennison Co. will post 9.93 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $3.00 annualized dividend and a yield of 1.55%. Avery Dennison’s payout ratio is currently 32.79%.

Analyst Ratings Changes

AVY has been the topic of several analyst reports. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Citigroup lowered their price objective on Avery Dennison from $255.00 to $247.00 in a research report on Friday, April 8th. Credit Suisse Group lowered their price objective on Avery Dennison from $195.00 to $188.00 in a research report on Wednesday, April 20th. Loop Capital lowered their price objective on Avery Dennison from $209.00 to $202.00 and set a “buy” rating on the stock in a research report on Wednesday, April 13th. Finally, Raymond James boosted their price objective on Avery Dennison from $185.00 to $200.00 in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.57.

Avery Dennison Profile

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Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.