Bank of New York Mellon Corp Has $143.08 Million Stake in Avery Dennison Co. (NYSE:AVY)

Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 21.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 764,591 shares of the industrial products company’s stock after buying an additional 134,560 shares during the period. Bank of New York Mellon Corp’s holdings in Avery Dennison were worth $143,078,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after purchasing an additional 3,118 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Avery Dennison by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Avery Dennison by 0.8% during the third quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock worth $136,338,000 after buying an additional 4,670 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Up 1.4 %

Shares of NYSE:AVY opened at $188.07 on Friday. Avery Dennison Co. has a 52 week low of $178.72 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The company has a market capitalization of $15.11 billion, a PE ratio of 21.57, a PEG ratio of 2.07 and a beta of 0.89. The company has a 50 day moving average price of $186.69 and a two-hundred day moving average price of $201.88.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is 40.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AVY shares. Barclays dropped their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group dropped their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Bank of America dropped their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

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.