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

Bahl & Gaynor Inc. raised its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 339,349 shares of the industrial products company's stock after purchasing an additional 55,810 shares during the quarter. Bahl & Gaynor Inc. owned about 0.42% of Avery Dennison worth $63,502,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AVY. Larson Financial Group LLC boosted its stake in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the 3rd quarter valued at about $36,000. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $37,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter worth approximately $39,000. Finally, Spire Wealth Management lifted its stake in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Up 0.8 %

Shares of NYSE:AVY traded up $1.54 during midday trading on Friday, hitting $183.94. 1,195,522 shares of the stock were exchanged, compared to its average volume of 753,032. The business's fifty day simple moving average is $186.21 and its two-hundred day simple moving average is $201.10. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The company has a market capitalization of $14.53 billion, a PE ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.89.

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Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results 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 net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Analyst Ratings Changes

AVY has been the topic of several recent research reports. Raymond James restated an "outperform" rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group decreased their target price on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Robert W. Baird set a $220.00 target price on Avery Dennison in a report on Friday, January 31st. Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Barclays dropped their target price on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $222.51.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.