California State Teachers Retirement System Trims Position in Avery Dennison Co. (NYSE:AVY)

California State Teachers Retirement System reduced its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,200 shares of the industrial products company's stock after selling 4,421 shares during the period. California State Teachers Retirement System owned approximately 0.21% of Avery Dennison worth $31,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison during the 4th quarter valued at about $37,000. Spire Wealth Management increased its holdings in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the fourth quarter worth approximately $68,000. Assetmark Inc. boosted its stake in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after acquiring an additional 73 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Avery Dennison by 49.8% during the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock worth $77,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Price Performance

Avery Dennison stock traded down $1.97 during mid-day trading on Friday, reaching $177.68. 1,306,679 shares of the company's stock traded hands, compared to its average volume of 616,775. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.07 and a beta of 0.88. The stock has a 50 day moving average of $174.19 and a two-hundred day moving average of $184.06. 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 Co. has a 12-month low of $157.00 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the firm earned $2.29 EPS. The company's revenue was down .1% on a year-over-year basis. Equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 dividend on an annualized basis and a yield of 2.12%. Avery Dennison's payout ratio is 43.32%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. The trade was 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 link. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Argus downgraded Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. BMO Capital Markets lowered their target price on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Barclays lowered their target price on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Raymond James lowered their target price on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $206.60.

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.