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

Bank of New York Mellon Corp increased its position in Avery Dennison Co. (NYSE:AVY) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 764,591 shares of the industrial products company’s stock after acquiring an additional 134,560 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Avery Dennison worth $143,078,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AVY. Geode Capital Management LLC raised its holdings in Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the period. Victory Capital Management Inc. raised its holdings in Avery Dennison by 6.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares during the period. World Investment Advisors LLC raised its holdings in Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock worth $20,278,000 after acquiring an additional 88,491 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in Avery Dennison by 135.6% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 146,830 shares of the industrial products company’s stock worth $27,476,000 after acquiring an additional 84,501 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Avery Dennison by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after acquiring an additional 46,390 shares during the period. Institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $210.00 to $205.00 in a report on Friday, January 31st. Barclays dropped their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $188.07 on Friday. 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 firm’s 50-day simple moving average is $186.69 and its 200-day simple moving average is $201.88. Avery Dennison Co. has a twelve month low of $178.72 and a twelve month high of $233.48. The firm has a market cap of $15.11 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89.

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

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.87%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.