PNC Financial Services Group Inc. lifted its position in shares of Avery Dennison Corp (NYSE:AVY) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,996 shares of the industrial products company’s stock after acquiring an additional 2,079 shares during the period. PNC Financial Services Group Inc.’s holdings in Avery Dennison were worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC lifted its holdings in shares of Avery Dennison by 90.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 136 shares during the last quarter. CSat Investment Advisory L.P. lifted its holdings in shares of Avery Dennison by 60.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 129 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Avery Dennison in the 1st quarter worth approximately $36,000. Penserra Capital Management LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $40,000. Finally, Bremer Trust National Association bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $42,000. 88.20% of the stock is owned by institutional investors.

NYSE AVY traded down $0.77 during trading on Wednesday, hitting $111.50. The company had a trading volume of 5,526 shares, compared to its average volume of 640,071. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 1.77. Avery Dennison Corp has a one year low of $82.89 and a one year high of $117.00. The firm has a market capitalization of $9.42 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS. On average, sell-side analysts predict that Avery Dennison Corp will post 6.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.08%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s dividend payout ratio is 38.28%.

A number of equities research analysts have recently weighed in on the stock. KeyCorp restated a “sector weight” rating and issued a $110.00 price objective on shares of Avery Dennison in a report on Sunday, April 7th. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Loop Capital lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $118.00.

In related news, Director Ken C. Hicks sold 9,691 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $110.10, for a total transaction of $1,066,979.10. Following the sale, the director now directly owns 28,396 shares of the company’s stock, valued at approximately $3,126,399.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. 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.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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