Avery Dennison Co. (NYSE:AVY) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its holdings in Avery Dennison Co. (NYSE:AVY) by 4.4% in the first quarter, Holdings Channel.com reports. The fund owned 156,183 shares of the industrial products company’s stock after buying an additional 6,591 shares during the quarter. California State Teachers Retirement System’s holdings in Avery Dennison were worth $34,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. QRG Capital Management Inc. raised its stake in shares of Avery Dennison by 30.7% during the 4th quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock worth $744,000 after buying an additional 864 shares during the last quarter. Jump Financial LLC purchased a new stake in Avery Dennison during the 4th quarter worth about $1,213,000. UBS Group AG increased its position in Avery Dennison by 54.1% during the 4th quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock worth $36,675,000 after purchasing an additional 63,716 shares in the last quarter. Norden Group LLC increased its position in Avery Dennison by 3.9% during the 4th quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 151 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Avery Dennison by 133.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock worth $5,320,000 after purchasing an additional 15,040 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling

In other news, insider Mitchell R. Butier 10,000 shares of Avery Dennison stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Mitchell R. Butier 10,000 shares of Avery Dennison stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Yost sold 584 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total value of $129,245.04. Following the completion of the transaction, the insider now directly owns 2,259 shares in the company, valued at $499,939.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,583 shares of company stock valued at $2,856,353. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.5 %

Shares of NYSE:AVY traded up $1.13 during trading on Wednesday, reaching $216.92. 513,305 shares of the stock were exchanged, compared to its average volume of 452,153. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88. The firm’s 50-day moving average price is $222.31 and its 200 day moving average price is $216.43.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate 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%. Avery Dennison’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 EPS. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.39 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.62%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analyst Weigh In

AVY has been the subject of a number of recent research reports. Argus lifted their price objective on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Citigroup lifted their price objective on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Robert W. Baird lifted their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. lifted their price target on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets lowered their price target on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.96.

About Avery Dennison

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.