Teacher Retirement System of Texas Buys 16,782 Shares of Avery Dennison Co. (NYSE:AVY)

Teacher Retirement System of Texas increased its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 34.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,830 shares of the industrial products company's stock after acquiring an additional 16,782 shares during the period. Teacher Retirement System of Texas owned about 0.08% of Avery Dennison worth $12,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings 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 valued at $31,000 after buying an additional 71 shares during the last quarter. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the fourth quarter worth $37,000. Spire Wealth Management grew its stake in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after purchasing an additional 130 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Avery Dennison in the third quarter valued at $66,000. Finally, VisionPoint Advisory Group LLC bought a new position in Avery Dennison during the 4th quarter worth $68,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AVY shares. UBS Group reduced their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research report on Friday, January 10th. Truist Financial reiterated a "buy" rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America lowered their price target on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Raymond James reissued an "outperform" rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three equities 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, the stock has an average rating of "Moderate Buy" and an average price target of $222.51.

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Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company's stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.

Avery Dennison Stock Up 1.3 %

NYSE:AVY traded up $2.35 on Wednesday, hitting $178.04. The stock had a trading volume of 348,263 shares, compared to its average volume of 512,897. The company has a market cap of $14.06 billion, a PE ratio of 20.42, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 52 week low of $173.02 and a 52 week high of $233.48. The business's fifty day moving average is $184.10 and its 200 day moving average is $197.31. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 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%. On average, equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.98%. Avery Dennison's payout ratio is 40.37%.

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.