New York State Teachers Retirement System Sells 3,284 Shares of Avery Dennison Co. (NYSE:AVY)

New York State Teachers Retirement System lessened its stake in shares of Avery Dennison Co. (NYSE:AVY) by 4.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,530 shares of the industrial products company’s stock after selling 3,284 shares during the quarter. New York State Teachers Retirement System’s holdings in Avery Dennison were worth $14,984,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter worth $42,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison in the 2nd quarter valued at about $51,000. Palisade Asset Management LLC bought a new stake in shares of Avery Dennison during the 1st quarter valued at about $64,000. Versant Capital Management Inc grew its holdings in shares of Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 281 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Avery Dennison by 250.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 288 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Activity

In other Avery Dennison news, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total transaction of $129,245.04. Following the sale, the insider now directly owns 2,259 shares of the company’s stock, valued at approximately $499,939.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Yost sold 584 shares of Avery Dennison stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the transaction, the insider now directly owns 2,259 shares of the company’s stock, valued at $499,939.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,939 shares of company stock valued at $11,657,766. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of a number of research reports. BMO Capital Markets cut their price target on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus started coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and reduced their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Truist Financial lifted their price target on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird increased their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.96.

Avery Dennison Stock Up 1.3 %

NYSE AVY opened at $219.05 on Friday. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The stock has a market capitalization of $17.65 billion, a PE ratio of 31.98, a PEG ratio of 1.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The business’s 50-day moving average is $216.64 and its 200 day moving average is $217.64.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS. Sell-side analysts forecast that Avery Dennison Co. will post 9.39 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, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.61%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.