Retirement Systems of Alabama Has $23.53 Million Position in Avery Dennison Co. (NYSE:AVY)

Retirement Systems of Alabama trimmed its holdings in Avery Dennison Co. (NYSE:AVY) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 125,723 shares of the industrial products company’s stock after selling 244 shares during the quarter. Retirement Systems of Alabama’s holdings in Avery Dennison were worth $23,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVY. Boston Trust Walden Corp raised its stake in shares of Avery Dennison by 7.5% in the fourth quarter. Boston Trust Walden Corp now owns 290,508 shares of the industrial products company’s stock worth $54,363,000 after acquiring an additional 20,192 shares during the last quarter. JB Capital LLC increased its holdings in shares of Avery Dennison by 5.0% in the fourth quarter. JB Capital LLC now owns 15,947 shares of the industrial products company’s stock valued at $2,984,000 after purchasing an additional 756 shares in the last quarter. Valley National Advisers Inc. raised its position in Avery Dennison by 2.9% in the 4th quarter. Valley National Advisers Inc. now owns 8,604 shares of the industrial products company’s stock worth $1,610,000 after purchasing an additional 243 shares during the last quarter. Greenleaf Trust lifted its holdings in Avery Dennison by 4.4% during the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after buying an additional 57 shares in the last quarter. Finally, Spire Wealth Management increased its stake in shares of Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

AVY stock opened at $181.57 on Friday. Avery Dennison Co. has a 1-year low of $179.20 and a 1-year high of $233.48. The business’s 50-day moving average price is $191.86 and its two-hundred day moving average price is $205.18. The firm has a market cap of $14.59 billion, a PE ratio of 20.82, a P/E/G ratio of 1.37 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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 forecast that Avery Dennison Co. will post 10.03 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.94%. Avery Dennison’s payout ratio is 40.37%.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research reports. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Raymond James restated an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.15.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently 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.