Arizona State Retirement System Purchases 308 Shares of Avery Dennison Co. (NYSE:AVY)

Arizona State Retirement System increased its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,387 shares of the industrial products company’s stock after buying an additional 308 shares during the period. Arizona State Retirement System’s holdings in Avery Dennison were worth $4,376,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Empirical Finance LLC boosted its holdings in shares of Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after buying an additional 55 shares during the period. Greenleaf Trust boosted its holdings in shares of 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 during the period. AdvisorNet Financial Inc boosted its holdings in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares during the period. Lindenwold Advisors INC boosted its holdings in shares of Avery Dennison by 0.6% during the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares during the period. Finally, Cynosure Group LLC boosted its holdings in Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 59 shares during the period. 94.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVY. Truist Financial reissued a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a 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’s stock. According to data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Trading Up 0.8 %

Shares of AVY stock opened at $183.94 on Friday. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a fifty day moving average of $186.11 and a 200-day moving average of $200.82.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now owns 316,300 shares in the company, valued at $58,891,897. This trade represents a 2.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.