Teacher Retirement System of Texas Grows Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Teacher Retirement System of Texas grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 34.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 65,830 shares of the industrial products company’s stock after purchasing an additional 16,782 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Avery Dennison worth $12,319,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Regents Gate Capital LLP bought a new position in Avery Dennison in the 4th quarter worth $37,000. Spire Wealth Management lifted its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Avery Dennison in the 3rd quarter worth $66,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in Avery Dennison in the 4th quarter worth $68,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY stock opened at $174.68 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market capitalization of $13.79 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.07 and a beta of 0.85. The company’s 50-day simple moving average is $184.59 and its two-hundred day simple moving average is $198.19. Avery Dennison Co. has a one year low of $173.02 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data 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%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.02%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVY. Truist Financial restated a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup decreased their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. UBS Group reduced their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Barclays reduced their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $222.51.

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.