New York State Teachers Retirement System decreased its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,878 shares of the industrial products company’s stock after selling 11,069 shares during the quarter. New York State Teachers Retirement System’s holdings in Avery Dennison were worth $12,755,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Fort L.P. lifted its position in shares of Avery Dennison by 2.1% in the 4th quarter. Fort L.P. now owns 4,939 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 101 shares during the period. American International Group Inc. lifted its position in shares of Avery Dennison by 0.3% in the 4th quarter. American International Group Inc. now owns 34,688 shares of the industrial products company’s stock worth $3,116,000 after acquiring an additional 113 shares during the period. Brinker Capital Inc. lifted its position in shares of Avery Dennison by 2.3% in the 4th quarter. Brinker Capital Inc. now owns 5,329 shares of the industrial products company’s stock worth $479,000 after acquiring an additional 118 shares during the period. Cigna Investments Inc. New lifted its position in shares of Avery Dennison by 5.1% in the 4th quarter. Cigna Investments Inc. New now owns 2,636 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 128 shares during the period. Finally, CSat Investment Advisory L.P. lifted its position in shares of Avery Dennison by 60.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 129 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

In other news, VP Lori J. Bondar sold 8,444 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $109.03, for a total value of $920,649.32. Following the completion of the transaction, the vice president now directly owns 25,872 shares of the company’s stock, valued at approximately $2,820,824.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dean A. Scarborough sold 83,273 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $107.72, for a total value of $8,970,167.56. Following the completion of the transaction, the director now directly owns 51,183 shares of the company’s stock, valued at $5,513,432.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 238,328 shares of company stock valued at $25,927,220. 1.30% of the stock is currently owned by insiders.

Shares of AVY opened at $101.49 on Wednesday. Avery Dennison Corp has a 1 year low of $82.89 and a 1 year high of $117.00. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $8.55 billion, a PE ratio of 16.75, a P/E/G ratio of 1.88 and a beta of 1.35.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.02. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm posted $1.44 EPS. Avery Dennison’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Avery Dennison Corp will post 6.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.29%. Avery Dennison’s dividend payout ratio is presently 34.32%.

AVY has been the subject of a number of research reports. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research report on Wednesday, April 24th. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Loop Capital downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. They noted that the move was a valuation call. BMO Capital Markets raised their price objective on Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research report on Monday, February 4th. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 price objective for the company. in a research report on Friday, March 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Avery Dennison currently has an average rating of “Hold” and an average price target of $118.00.

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Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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