Bahl & Gaynor Inc. Acquires 55,810 Shares of Avery Dennison Co. (NYSE:AVY)

Bahl & Gaynor Inc. lifted its holdings in Avery Dennison Co. (NYSE:AVY) by 19.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 339,349 shares of the industrial products company’s stock after purchasing an additional 55,810 shares during the period. Bahl & Gaynor Inc. owned about 0.42% of Avery Dennison worth $63,502,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares in the last quarter. Victory Capital Management Inc. lifted its stake in 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. Icon Wealth Advisors LLC grew its holdings in shares of Avery Dennison by 553.5% in the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 2,657 shares in the last quarter. Meyer Handelman Co. acquired a new stake in Avery Dennison in the 4th quarter valued at about $4,263,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Trading Down 1.2 %

Shares of AVY stock opened at $185.75 on Tuesday. 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 firm has a fifty day moving average of $186.63 and a 200-day moving average of $201.59. The stock has a market cap of $14.67 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.07 and a beta of 0.89.

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

Avery Dennison Announces Dividend

The company also recently disclosed 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 is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.90%. Avery Dennison’s payout ratio is 40.37%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVY shares. Bank of America dropped their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group dropped their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Citigroup dropped their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, 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 research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

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.