BNP Paribas Arbitrage SA raised its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 91.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,034 shares of the industrial products company’s stock after acquiring an additional 55,314 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.13% of Avery Dennison worth $12,329,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tiverton Asset Management LLC raised its stake in shares of Avery Dennison by 50.7% in the 1st quarter. Tiverton Asset Management LLC now owns 1,478 shares of the industrial products company’s stock worth $157,000 after buying an additional 497 shares in the last quarter. Focused Wealth Management Inc bought a new stake in shares of Avery Dennison in the 4th quarter worth $184,000. Meridian Investment Counsel Inc. bought a new stake in shares of Avery Dennison in the 4th quarter worth $206,000. IBM Retirement Fund bought a new stake in shares of Avery Dennison in the 1st quarter worth $207,000. Finally, Clifford Swan Investment Counsel LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth $214,000. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AVY opened at $105.03 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.79 and a current ratio of 1.12. The firm has a market capitalization of $9.35 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.52 and a beta of 1.27. Avery Dennison Corp has a 52-week low of $83.10 and a 52-week high of $123.67.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.08. The business had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Avery Dennison had a return on equity of 44.21% and a net margin of 4.32%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. research analysts expect that Avery Dennison Corp will post 6.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, June 6th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, June 5th. Avery Dennison’s payout ratio is presently 36.00%.

A number of analysts have recently commented on AVY shares. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $113.00 to $107.00 in a research note on Friday, March 16th. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research note on Wednesday, April 25th. Barclays boosted their price objective on Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, Citigroup dropped their price objective on Avery Dennison from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, April 5th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.11.

In related news, Director Dean A. Scarborough sold 10,000 shares of Avery Dennison stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $104.37, for a total value of $1,043,700.00. Following the transaction, the director now directly owns 106,953 shares in the company, valued at approximately $11,162,684.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan C. Miller sold 15,848 shares of Avery Dennison stock in a transaction on Friday, March 16th. The stock was sold at an average price of $111.08, for a total value of $1,760,395.84. Following the completion of the transaction, the vice president now owns 13,409 shares in the company, valued at $1,489,471.72. The disclosure for this sale can be found here. Insiders sold a total of 131,874 shares of company stock worth $14,201,715 over the last 90 days. Insiders own 1.30% of the company’s stock.

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. It also offers durable cast and reflective films.

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

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