Avery Dennison Co. (NYSE:AVY) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System decreased its position in Avery Dennison Co. (NYSE:AVY) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 22,587 shares of the industrial products company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Avery Dennison were worth $4,227,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC raised its position in shares of Avery Dennison by 2.0% in the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the last quarter. Greenleaf Trust raised its holdings in Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after acquiring an additional 57 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 58 shares during the last quarter. Lindenwold Advisors INC raised its holdings in Avery Dennison by 0.6% in the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 59 shares during the last quarter. Finally, Cynosure Group LLC increased its stake in Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Up 0.8 %

Shares of NYSE AVY opened at $183.94 on Friday. Avery Dennison Co. has a 12-month low of $178.72 and a 12-month high of $233.48. The company has a market cap of $14.53 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock has a fifty day moving average price of $186.11 and a 200 day moving average price of $200.90.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Analysts Set New Price Targets

Several equities analysts recently commented on AVY shares. Truist Financial reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison 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.