New York State Teachers Retirement System Raises Holdings in Avery Dennison Co. (NYSE:AVY)

New York State Teachers Retirement System grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,326 shares of the industrial products company’s stock after purchasing an additional 5,796 shares during the period. New York State Teachers Retirement System owned 0.09% of Avery Dennison worth $16,408,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Avery Dennison during the first quarter worth $102,117,000. Jennison Associates LLC purchased a new stake in Avery Dennison in the 1st quarter valued at about $44,837,000. National Bank of Canada FI increased its stake in shares of Avery Dennison by 795.2% during the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after acquiring an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Avery Dennison by 179.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock worth $47,258,000 after acquiring an additional 138,808 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in shares of Avery Dennison by 51.9% in the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after acquiring an additional 81,993 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Down 0.4 %

NYSE AVY opened at $206.19 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a fifty-two week low of $175.10 and a fifty-two week high of $233.48. The business has a 50 day moving average price of $215.91 and a two-hundred day moving average price of $218.19. The stock has a market cap of $16.57 billion, a PE ratio of 24.75, a P/E/G ratio of 1.60 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results 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. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business earned $2.10 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. 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 currently 42.26%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, 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 SEC, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,574,496.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $64,444,797.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,108 shares of company stock worth $10,407,587 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVY. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial raised their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.96.

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.