New York State Common Retirement Fund Increases Holdings in Avery Dennison Co. (NYSE:AVY)

New York State Common Retirement Fund boosted its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 77,080 shares of the industrial products company's stock after acquiring an additional 2,724 shares during the period. New York State Common Retirement Fund owned 0.10% of Avery Dennison worth $17,016,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Avery Dennison during the first quarter worth $102,117,000. National Bank of Canada FI lifted its position in Avery Dennison by 795.2% in the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company's stock worth $34,190,000 after buying an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Avery Dennison by 179.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company's stock valued at $47,258,000 after purchasing an additional 138,808 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Avery Dennison by 51.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company's stock valued at $52,497,000 after acquiring an additional 81,993 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Avery Dennison by 3,517.1% during the second quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company's stock valued at $17,701,000 after purchasing an additional 78,748 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company's stock, valued at $62,896,857.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,108 shares of company stock valued at $9,181,457 in the last quarter. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AVY has been the subject of several recent analyst reports. Citigroup lowered their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a "buy" rating and a $274.60 target price on the stock. StockNews.com lowered Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, UBS Group downgraded shares of Avery Dennison from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Stock Down 1.3 %

NYSE AVY traded down $2.63 during trading hours on Wednesday, reaching $204.12. 1,077,338 shares of the company's stock traded hands, compared to its average volume of 468,491. Avery Dennison Co. has a 52-week low of $176.75 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The firm has a 50-day simple moving average of $215.45 and a 200 day simple moving average of $218.24. The firm has a market cap of $16.40 billion, a PE ratio of 24.82, a PEG ratio of 1.58 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $2.10 earnings per share. Sell-side analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. Avery Dennison's payout ratio is presently 42.26%.

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.