Avery Dennison Co. (NYSE:AVY) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in Avery Dennison Co. (NYSE:AVY) by 8.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 74,326 shares of the industrial products company’s stock after acquiring an additional 5,796 shares during the quarter. New York State Teachers Retirement System’s holdings in Avery Dennison were worth $16,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. Innealta Capital LLC bought a new position in shares of Avery Dennison during the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison during the 2nd quarter worth approximately $42,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison in the second quarter valued at $51,000. Raleigh Capital Management Inc. grew its holdings in shares of Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new position in Avery Dennison during the first quarter valued at $64,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Down 0.4 %

Avery Dennison stock opened at $206.19 on Friday. Avery Dennison Co. has a one year low of $175.10 and a one year high of $233.48. The company’s fifty day moving average price is $215.91 and its two-hundred day moving average price is $218.19. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.60 and a beta of 0.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.10 EPS. On average, analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AVY shares. Truist Financial raised their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Barclays lowered their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $62,574,496.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $62,574,496.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,108 shares of company stock worth $10,407,587. Company insiders own 1.10% of the company’s stock.

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.