State of Michigan Retirement System Sells 500 Shares of Avery Dennison Corporation $AVY

State of Michigan Retirement System cut its holdings in Avery Dennison Corporation (NYSE:AVY) by 2.2% during the second quarter, Holdings Channel.com reports. The fund owned 22,087 shares of the industrial products company’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Avery Dennison were worth $3,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVY. OneDigital Investment Advisors LLC bought a new position in Avery Dennison in the first quarter valued at approximately $250,000. World Investment Advisors boosted its position in shares of Avery Dennison by 7.6% during the first quarter. World Investment Advisors now owns 5,443 shares of the industrial products company’s stock worth $969,000 after purchasing an additional 386 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Avery Dennison by 3.9% during the first quarter. Concurrent Investment Advisors LLC now owns 5,257 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 199 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Avery Dennison by 2,049.5% during the first quarter. Penserra Capital Management LLC now owns 4,385 shares of the industrial products company’s stock worth $779,000 after purchasing an additional 4,181 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Avery Dennison by 3.6% during the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company’s stock worth $386,000 after purchasing an additional 76 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Trading Up 0.1%

Shares of NYSE:AVY opened at $174.39 on Wednesday. Avery Dennison Corporation has a 12 month low of $156.23 and a 12 month high of $209.83. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 1.45. The company’s fifty day simple moving average is $166.89 and its 200 day simple moving average is $173.09. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.39 and a beta of 0.95.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.05. Avery Dennison had a return on equity of 33.67% and a net margin of 7.93%.The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $2.33 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Avery Dennison has set its Q4 2025 guidance at 2.350-2.450 EPS. As a group, research analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, December 3rd. Avery Dennison’s payout ratio is presently 42.78%.

Analysts Set New Price Targets

AVY has been the topic of a number of recent analyst reports. Bank of America lifted their price target on shares of Avery Dennison from $195.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Truist Financial reduced their price target on shares of Avery Dennison from $204.00 to $203.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Avery Dennison in a research report on Tuesday, October 14th. BMO Capital Markets reissued an “outperform” rating and set a $210.00 price target on shares of Avery Dennison in a research report on Thursday, October 23rd. Finally, Raymond James Financial raised their price objective on shares of Avery Dennison from $194.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.55.

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.