Mn Services Vermogensbeheer B.V. Sells 2,200 Shares of Avery Dennison Corporation (NYSE:AVY)

Mn Services Vermogensbeheer B.V. trimmed its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,300 shares of the industrial products company’s stock after selling 2,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Avery Dennison were worth $5,215,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in Avery Dennison by 2.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 4,210 shares of the industrial products company’s stock valued at $749,000 after buying an additional 96 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Avery Dennison by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,185 shares of the industrial products company’s stock valued at $2,169,000 after buying an additional 217 shares during the period. Smithbridge Asset Management Inc. DE bought a new position in Avery Dennison in the 1st quarter valued at about $1,353,000. Albert D Mason Inc. increased its holdings in Avery Dennison by 1.9% in the 1st quarter. Albert D Mason Inc. now owns 7,548 shares of the industrial products company’s stock valued at $1,343,000 after buying an additional 139 shares during the period. Finally, McElhenny Sheffield Capital Management LLC increased its holdings in Avery Dennison by 10.0% in the 1st quarter. McElhenny Sheffield Capital Management LLC now owns 2,324 shares of the industrial products company’s stock valued at $414,000 after buying an additional 212 shares during the period. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVY shares. 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 target price for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. UBS Group cut their target price on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Raymond James Financial cut their target price on shares of Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Avery Dennison in a research report on Tuesday, April 22nd. They set a “hold” rating and a $175.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.60.

Avery Dennison Trading Down 1.4%

AVY stock opened at $173.96 on Wednesday. The company has a market capitalization of $13.60 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 2.83 and a beta of 0.88. Avery Dennison Corporation has a one year low of $157.00 and a one year high of $233.48. The company’s 50 day moving average price is $175.45 and its two-hundred day moving average price is $181.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03.

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

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s dividend payout ratio is presently 43.32%.

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.