Avery Dennison Corporation (NYSE:AVY) Shares Purchased by Amalgamated Bank

Amalgamated Bank boosted its stake in Avery Dennison Corporation (NYSE:AVY) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,076 shares of the industrial products company’s stock after purchasing an additional 83 shares during the period. Amalgamated Bank’s holdings in Avery Dennison were worth $2,861,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVY. Jones Financial Companies Lllp increased its holdings in Avery Dennison by 64.6% in the 4th quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company’s stock valued at $79,000 after purchasing an additional 166 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Avery Dennison by 15.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,340 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 175 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Avery Dennison by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock valued at $130,821,000 after acquiring an additional 10,674 shares in the last quarter. Keybank National Association OH grew its stake in shares of Avery Dennison by 26.0% during the fourth quarter. Keybank National Association OH now owns 2,367 shares of the industrial products company’s stock valued at $443,000 after acquiring an additional 488 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Avery Dennison by 22.5% during the fourth 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. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVY has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on Avery Dennison from $226.00 to $216.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Robert W. Baird lowered their target price on Avery Dennison from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group assumed coverage on Avery Dennison in a research note on Tuesday, April 22nd. They set a “hold” rating and a $175.00 target price for the company. Truist Financial decreased their price target on Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Argus downgraded Avery Dennison from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $206.60.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $183.24 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 1.19. The firm’s 50-day moving average price is $177.48 and its two-hundred day moving average price is $180.09. Avery Dennison Corporation has a 52-week low of $157.00 and a 52-week high of $233.48. The stock has a market capitalization of $14.33 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.94 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the business earned $2.29 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts forecast that Avery Dennison Corporation will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s payout ratio is 43.32%.

Avery Dennison Company 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.