Teachers Retirement System of The State of Kentucky Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,030 shares of the industrial products company’s stock after selling 386 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Avery Dennison were worth $1,331,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Intech Investment Management LLC increased its holdings in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after buying an additional 50 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after acquiring an additional 55 shares during the period. Procyon Advisors LLC boosted its position in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 56 shares during the period. Lindenwold Advisors INC increased its stake in shares of Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 59 shares in the last quarter. Finally, Cynosure Group LLC raised its position in shares of 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 period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Trading Down 0.8 %

Shares of AVY opened at $191.44 on Wednesday. The firm has a fifty day simple moving average of $205.63 and a two-hundred day simple moving average of $213.78. Avery Dennison Co. has a twelve month low of $190.00 and a twelve month high of $233.48. The stock has a market capitalization of $15.38 billion, a P/E ratio of 22.98, a PEG ratio of 1.52 and a beta of 0.87. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. On average, research analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVY shares. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Citigroup lowered their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.96.

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.