Arizona State Retirement System grew its position in Avery Dennison Co. (NYSE:AVY – Get Rating) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,000 shares of the industrial products company’s stock after purchasing an additional 564 shares during the period. Arizona State Retirement System’s holdings in Avery Dennison were worth $4,163,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in AVY. Massmutual Trust Co. FSB ADV raised its holdings in shares of Avery Dennison by 434.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 139 shares of the industrial products company’s stock valued at $25,000 after buying an additional 113 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter valued at about $33,000. Eagle Bay Advisors LLC bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $33,000. Spire Wealth Management increased its stake in shares of Avery Dennison by 98.4% in the 4th quarter. Spire Wealth Management now owns 246 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 122 shares during the last quarter. Finally, Old North State Trust LLC bought a new stake in shares of Avery Dennison in the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 89.05% of the company’s stock.
Insider Buying and Selling
In other Avery Dennison news, Director Andres Alberto Lopez sold 5,800 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $182.00, for a total value of $1,055,600.00. Following the completion of the transaction, the director now owns 1,315 shares in the company, valued at approximately $239,330. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Anthony Anderson sold 816 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $183.99, for a total transaction of $150,135.84. Following the sale, the director now owns 558 shares of the company’s stock, valued at approximately $102,666.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andres Alberto Lopez sold 5,800 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $182.00, for a total value of $1,055,600.00. Following the sale, the director now directly owns 1,315 shares in the company, valued at approximately $239,330. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,388 shares of company stock worth $2,059,829. 1.10% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Avery Dennison Price Performance
Avery Dennison stock opened at $172.08 on Monday. The stock’s 50 day moving average is $175.13 and its 200 day moving average is $180.40. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.13 and a quick ratio of 0.73. The firm has a market cap of $13.89 billion, a P/E ratio of 20.71, a P/E/G ratio of 2.67 and a beta of 0.95. Avery Dennison Co. has a one year low of $151.62 and a one year high of $204.37.
Avery Dennison (NYSE:AVY – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.04. Avery Dennison had a return on equity of 34.49% and a net margin of 7.77%. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the firm earned $2.40 earnings per share. The company’s revenue was down 12.1% compared to the same quarter last year. As a group, research analysts expect that Avery Dennison Co. will post 9 EPS for the current year.
Avery Dennison Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, June 6th. This represents a $3.24 annualized dividend and a yield of 1.88%. This is an increase from Avery Dennison’s previous quarterly dividend of $0.75. Avery Dennison’s dividend payout ratio is 36.10%.
Avery Dennison Profile
Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.
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