Avery Dennison Corporation $AVY Stock: Illinois Municipal Retirement Fund Raises Position

Illinois Municipal Retirement Fund grew its stake in Avery Dennison Corporation (NYSE:AVY) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 47,693 shares of the industrial products company’s stock after purchasing an additional 3,236 shares during the period. Illinois Municipal Retirement Fund’s holdings in Avery Dennison were worth $8,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lido Advisors LLC bought a new stake in Avery Dennison in the third quarter worth $340,000. Keybank National Association OH boosted its stake in Avery Dennison by 3.0% during the third quarter. Keybank National Association OH now owns 1,988 shares of the industrial products company’s stock worth $339,000 after buying an additional 58 shares during the period. New York Life Investment Management LLC boosted its stake in Avery Dennison by 3.8% during the third quarter. New York Life Investment Management LLC now owns 21,419 shares of the industrial products company’s stock worth $3,656,000 after buying an additional 789 shares during the period. AlphaCore Capital LLC increased its position in Avery Dennison by 77.2% during the third quarter. AlphaCore Capital LLC now owns 3,419 shares of the industrial products company’s stock valued at $584,000 after acquiring an additional 1,489 shares during the last quarter. Finally, Fulcrum Asset Management LLP increased its position in Avery Dennison by 27,200.0% during the third quarter. Fulcrum Asset Management LLP now owns 1,638 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 1,632 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.6%

NYSE AVY opened at $187.13 on Friday. The stock has a market cap of $14.13 billion, a PE ratio of 18.40, a PEG ratio of 2.22 and a beta of 0.77. Avery Dennison Corporation has a 12 month low of $152.42 and a 12 month high of $199.54. The company’s 50-day moving average price is $175.95 and its 200-day moving average price is $172.34. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.10. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.37 EPS. Equities research analysts forecast that Avery Dennison Corporation will post 10.17 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $4.00 annualized dividend and a yield of 2.1%. Avery Dennison’s dividend payout ratio is 43.29%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $181.00 target price on shares of Avery Dennison in a research note on Monday, September 28th. Bank of America reaffirmed a “buy” rating on shares of Avery Dennison in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Weiss Ratings raised shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, November 4th. Finally, UBS Group raised their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.10.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Director Andres Alberto Lopez sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $193.80, for a total transaction of $775,200.00. Following the transaction, the director directly owned 1,147 shares in the company, valued at $222,288.60. This trade represents a 77.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total value of $663,262.48. Following the sale, the senior vice president directly owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. This trade represents a 35.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.81% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.