Public Sector Pension Investment Board Purchases 1,303 Shares of Avery Dennison Co. (NYSE:AVY)

Public Sector Pension Investment Board lifted its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 227,019 shares of the industrial products company’s stock after buying an additional 1,303 shares during the period. Public Sector Pension Investment Board owned about 0.28% of Avery Dennison worth $49,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AVY. UBS Group AG raised its position in Avery Dennison by 54.1% in the 4th quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock worth $36,675,000 after purchasing an additional 63,716 shares during the period. Franklin Resources Inc. boosted its holdings in Avery Dennison by 1.0% during the 4th quarter. Franklin Resources Inc. now owns 226,781 shares of the industrial products company’s stock valued at $45,846,000 after acquiring an additional 2,308 shares during the period. US Bancorp DE boosted its holdings in Avery Dennison by 26.6% during the 4th quarter. US Bancorp DE now owns 36,985 shares of the industrial products company’s stock valued at $7,477,000 after acquiring an additional 7,766 shares during the period. Advisory Services Network LLC increased its stake in Avery Dennison by 28.4% in the 4th quarter. Advisory Services Network LLC now owns 7,720 shares of the industrial products company’s stock worth $1,561,000 after purchasing an additional 1,707 shares during the period. Finally, Sepio Capital LP lifted its position in Avery Dennison by 118.8% in the fourth quarter. Sepio Capital LP now owns 3,313 shares of the industrial products company’s stock valued at $670,000 after purchasing an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 1.9 %

Shares of NYSE AVY opened at $211.58 on Monday. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The firm has a 50-day moving average of $215.56 and a 200 day moving average of $218.86. The stock has a market cap of $17.04 billion, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 EPS. As a group, sell-side analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVY. Truist Financial lifted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $252.00 target price (down from $254.00) on shares of Avery Dennison in a report on Thursday. Robert W. Baird boosted their price target on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Citigroup lifted their price objective on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Finally, UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $242.36.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $62,574,496.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by corporate insiders.

Avery Dennison 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.