Texas Permanent School Fund Decreases Stock Holdings in Avery Dennison Corp (NYSE:AVY)

Texas Permanent School Fund trimmed its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,683 shares of the industrial products company’s stock after selling 597 shares during the quarter. Texas Permanent School Fund’s holdings in Avery Dennison were worth $1,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVY. Private Trust Co. NA grew its position in Avery Dennison by 4.1% during the second quarter. Private Trust Co. NA now owns 10,848 shares of the industrial products company’s stock valued at $1,254,000 after buying an additional 428 shares during the period. Crossmark Global Holdings Inc. grew its position in Avery Dennison by 3.3% during the second quarter. Crossmark Global Holdings Inc. now owns 6,912 shares of the industrial products company’s stock valued at $800,000 after buying an additional 221 shares during the period. Retirement Systems of Alabama grew its position in Avery Dennison by 0.7% during the second quarter. Retirement Systems of Alabama now owns 39,366 shares of the industrial products company’s stock valued at $4,554,000 after buying an additional 261 shares during the period. Campbell & CO Investment Adviser LLC grew its position in Avery Dennison by 83.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 3,599 shares of the industrial products company’s stock valued at $416,000 after buying an additional 1,642 shares during the period. Finally, CHURCHILL MANAGEMENT Corp grew its position in Avery Dennison by 23.2% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 29,209 shares of the industrial products company’s stock valued at $3,379,000 after buying an additional 5,493 shares during the period. Institutional investors own 88.37% of the company’s stock.

In other Avery Dennison news, Director Julia A. Stewart sold 6,318 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $130.00, for a total value of $821,340.00. Following the completion of the transaction, the director now directly owns 18,624 shares in the company, valued at $2,421,120. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lori J. Bondar sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $126.00, for a total transaction of $567,000.00. Following the completion of the transaction, the chief accounting officer now owns 12,928 shares of the company’s stock, valued at $1,628,928. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,781 shares of company stock valued at $2,418,877. Company insiders own 1.30% of the company’s stock.

AVY opened at $133.83 on Friday. The firm has a market cap of $11.13 billion, a P/E ratio of 22.08, a PEG ratio of 2.47 and a beta of 1.32. Avery Dennison Corp has a 1-year low of $82.89 and a 1-year high of $133.88. The company has a 50 day simple moving average of $118.55 and a two-hundred day simple moving average of $113.24. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.74.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.05. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Avery Dennison had a net margin of 3.37% and a return on equity of 53.79%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share. Equities analysts anticipate that Avery Dennison Corp will post 6.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.58 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.73%. Avery Dennison’s payout ratio is currently 38.28%.

Several analysts recently issued reports on AVY shares. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research report on Friday, September 13th. ValuEngine upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Citigroup lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and boosted their target price for the company from $132.00 to $136.00 in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $105.00 to $111.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group cut their target price on shares of Avery Dennison from $130.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Avery Dennison presently has an average rating of “Hold” and a consensus price target of $126.00.

About Avery Dennison

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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