Illinois Municipal Retirement Fund Buys 15,834 Shares of Avery Dennison Co. (NYSE:AVY)

Illinois Municipal Retirement Fund boosted its position in shares of Avery Dennison Co. (NYSE:AVY) by 52.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,150 shares of the industrial products company’s stock after purchasing an additional 15,834 shares during the period. Illinois Municipal Retirement Fund’s holdings in Avery Dennison were worth $8,636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVY. Larson Financial Group LLC grew its holdings in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the 3rd quarter worth approximately $36,000. Regents Gate Capital LLP bought a new position in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison during the 3rd quarter worth approximately $39,000. Finally, Spire Wealth Management boosted 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 valued at $56,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.9 %

NYSE AVY opened at $186.24 on Wednesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a fifty-two week low of $178.72 and a fifty-two week high of $233.48. The stock has a market capitalization of $14.96 billion, a PE ratio of 21.36, a PEG ratio of 2.07 and a beta of 0.89. The business has a fifty day moving average price of $186.74 and a two-hundred day moving average price of $202.24.

Avery Dennison (NYSE:AVY) last released 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%. Equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.89%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVY. Barclays lowered their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird set a $220.00 price objective on Avery Dennison in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target 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.