Public Employees Retirement System of Ohio Purchases 26,610 Shares of Avery Dennison Corporation $AVY

Public Employees Retirement System of Ohio grew its position in Avery Dennison Corporation (NYSE:AVY) by 115.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,759 shares of the industrial products company’s stock after purchasing an additional 26,610 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Avery Dennison were worth $8,592,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC raised its position in Avery Dennison by 16,900.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 170 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 169 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of Avery Dennison by 60.8% in the 4th quarter. Root Financial Partners LLC now owns 193 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 73 shares during the last quarter. Godfrey Financial Associates Inc. bought a new stake in shares of Avery Dennison during the 4th quarter worth $37,000. CYBER HORNET ETFs LLC acquired a new stake in Avery Dennison in the second quarter valued at about $37,000. Finally, Sound Income Strategies LLC grew its position in Avery Dennison by 51.1% in the fourth quarter. Sound Income Strategies LLC now owns 213 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Avery Dennison stock opened at $163.01 on Tuesday. The stock has a 50-day moving average price of $159.66 and a two-hundred day moving average price of $171.54. Avery Dennison Corporation has a 12 month low of $152.42 and a 12 month high of $199.54. The company has a market capitalization of $12.47 billion, a PE ratio of 18.38, a P/E/G ratio of 2.86 and a beta of 0.82. The company has a current ratio of 1.15, a quick ratio of 0.80 and a debt-to-equity ratio of 1.38.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.06. Avery Dennison had a return on equity of 33.69% and a net margin of 7.66%.The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business posted $2.30 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts expect that Avery Dennison Corporation will post 10 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $4.00 annualized dividend and a yield of 2.5%. Avery Dennison’s dividend payout ratio (DPR) is currently 45.10%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AVY shares. UBS Group lowered their target price on Avery Dennison from $226.00 to $222.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Citigroup decreased their price target on shares of Avery Dennison from $185.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Argus set a $175.00 price objective on shares of Avery Dennison in a research report on Thursday, June 4th. Truist Financial dropped their price objective on shares of Avery Dennison from $221.00 to $209.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Raymond James Financial set a $192.00 target price on shares of Avery Dennison in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $200.11.

Avery Dennison Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.