Arizona State Retirement System Has $1.94 Million Stake in Avery Dennison Corporation (AVY)
Arizona State Retirement System reduced its position in Avery Dennison Corporation (NYSE:AVY) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,003 shares of the industrial products company’s stock after selling 100 shares during the period. Arizona State Retirement System’s holdings in Avery Dennison Corporation were worth $1,944,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. American Beacon Advisors Inc. acquired a new stake in Avery Dennison Corporation during the first quarter worth $105,000. Van ECK Associates Corp raised its stake in Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after buying an additional 94 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Avery Dennison Corporation by 21.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock worth $140,000 after buying an additional 303 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Avery Dennison Corporation during the first quarter worth $171,000. Finally, Advisor Partners LLC acquired a new stake in Avery Dennison Corporation during the second quarter worth $207,000. Institutional investors own 88.28% of the company’s stock.
Shares of Avery Dennison Corporation (NYSE AVY) opened at 92.81 on Tuesday. The company has a market capitalization of $8.20 billion, a P/E ratio of 21.80 and a beta of 1.18. The firm has a 50-day moving average of $92.70 and a 200-day moving average of $84.93. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $96.70.
Avery Dennison Corporation (NYSE:AVY) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.10. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. On average, equities analysts predict that Avery Dennison Corporation will post $4.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 annualized dividend and a yield of 1.94%. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.
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A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a report on Wednesday, April 26th. Barclays PLC restated an “overweight” rating and issued a $96.00 target price (up previously from $95.00) on shares of Avery Dennison Corporation in a report on Monday, May 1st. Zacks Investment Research raised shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, May 22nd. Finally, Aegis reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Avery Dennison Corporation presently has a consensus rating of “Buy” and a consensus price target of $91.67.
In other Avery Dennison Corporation news, Director Anthony Anderson sold 6,248 shares of Avery Dennison Corporation stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $85.15, for a total value of $532,017.20. Following the completion of the transaction, the director now directly owns 1,244 shares of the company’s stock, valued at $105,926.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Deon Stander sold 5,000 shares of Avery Dennison Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total transaction of $422,500.00. Following the completion of the transaction, the vice president now directly owns 10,998 shares of the company’s stock, valued at $929,331. The disclosure for this sale can be found here. Insiders sold 21,248 shares of company stock valued at $1,890,817 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.
Avery Dennison Corporation Company Profile
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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