New York State Teachers Retirement System Has $11.57 Million Stake in Avery Dennison Corporation (NYSE:AVY)

New York State Teachers Retirement System lowered its stake in shares of Avery Dennison Corporation (NYSE:AVY - Free Report) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 65,009 shares of the industrial products company's stock after selling 2,850 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Avery Dennison worth $11,570,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in AVY. American National Bank & Trust acquired a new position in shares of Avery Dennison during the first quarter valued at about $49,000. Grove Bank & Trust raised its position in Avery Dennison by 17.7% in the first quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock worth $70,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. raised its position in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares in the last quarter. Farther Finance Advisors LLC raised its position in Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock worth $77,000 after purchasing an additional 136 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Avery Dennison by 64.6% in the fourth quarter. Jones Financial Companies Lllp now owns 423 shares of the industrial products company's stock worth $79,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Price Performance

Shares of AVY traded down $2.85 during mid-day trading on Monday, hitting $180.39. 478,807 shares of the company traded hands, compared to its average volume of 650,802. Avery Dennison Corporation has a one year low of $157.00 and a one year high of $233.48. The company has a current ratio of 1.03, a quick ratio of 0.68 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $177.68 and a 200 day moving average of $179.95. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.94 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). Avery Dennison had a net margin of 7.98% and a return on equity of 33.11%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the business posted $2.29 earnings per share. Avery Dennison's revenue was down .1% compared to the same quarter last year. As a group, equities analysts expect that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.94 dividend. The ex-dividend date was Wednesday, June 4th. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 2.08%. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird dropped their price target on shares of Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. UBS Group dropped their price target on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. BMO Capital Markets decreased their price objective on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.