State Treasurer State of Michigan Has $2.98 Million Holdings in Avery Dennison Corp (AVY)

State Treasurer State of Michigan decreased its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,926 shares of the industrial products company’s stock after selling 900 shares during the quarter. State Treasurer State of Michigan’s holdings in Avery Dennison were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Engineers Gate Manager LP bought a new stake in Avery Dennison during the 4th quarter valued at $7,135,000. HL Financial Services LLC bought a new stake in Avery Dennison during the 4th quarter valued at $4,147,000. Dean Capital Investments Management LLC bought a new stake in Avery Dennison during the 4th quarter valued at $948,000. Ronna Sue Cohen bought a new stake in Avery Dennison during the 4th quarter valued at $218,000. Finally, Congress Asset Management Co. MA raised its holdings in Avery Dennison by 1.1% during the 4th quarter. Congress Asset Management Co. MA now owns 837,546 shares of the industrial products company’s stock valued at $96,201,000 after acquiring an additional 9,124 shares during the period. 85.88% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Julia A. Stewart sold 4,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $108.42, for a total value of $433,680.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total transaction of $229,520.00. Following the completion of the transaction, the director now directly owns 26,703 shares in the company, valued at approximately $3,064,436.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,855 shares of company stock worth $1,866,802. Insiders own 1.40% of the company’s stock.

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 target price on the stock. in a report on Thursday, February 1st. Zacks Investment Research raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Monday, January 22nd. UBS Group assumed coverage on shares of Avery Dennison in a report on Thursday, January 18th. They set a “buy” rating and a $135.00 target price on the stock. Bank of America boosted their target price on shares of Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Barclays boosted their target price on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $120.25.

Avery Dennison Corp (NYSE:AVY) opened at $111.46 on Friday. The firm has a market cap of $9,751.79, a price-to-earnings ratio of 35.61, a PEG ratio of 2.69 and a beta of 1.20. Avery Dennison Corp has a 1-year low of $78.47 and a 1-year high of $123.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. research analysts expect that Avery Dennison Corp will post 5.88 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.61%. Avery Dennison’s payout ratio is currently 57.51%.

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About Avery Dennison

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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

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