Teacher Retirement System of Texas Raises Stake in Avery Dennison Corporation (NYSE:AVY)

Teacher Retirement System of Texas grew its stake in Avery Dennison Corporation (NYSE:AVY - Free Report) by 106.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,157 shares of the industrial products company's stock after purchasing an additional 70,327 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.17% of Avery Dennison worth $24,232,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVY. HBK Sorce Advisory LLC increased its stake in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock valued at $2,220,000 after acquiring an additional 58 shares in the last quarter. Baker Avenue Asset Management LP increased its stake in shares of Avery Dennison by 5.7% in the 4th quarter. Baker Avenue Asset Management LP now owns 1,100 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 59 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Avery Dennison by 17.7% in the 1st quarter. Grove Bank & Trust now owns 393 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 59 shares in the last quarter. Smith Moore & CO. increased its stake in shares of Avery Dennison by 1.4% in the 4th quarter. Smith Moore & CO. now owns 4,720 shares of the industrial products company's stock valued at $883,000 after acquiring an additional 63 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Down 1.6%

Shares of NYSE AVY traded down $2.85 during trading on Monday, hitting $180.39. The stock had a trading volume of 478,807 shares, compared to its average volume of 650,802. Avery Dennison Corporation has a 12 month low of $157.00 and a 12 month high of $233.48. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.68. The company has a market capitalization of $14.10 billion, a PE ratio of 20.78, a PEG ratio of 2.94 and a beta of 0.87. The firm has a fifty day moving average of $177.68 and a two-hundred day moving average of $179.95.

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

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $0.94 dividend. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, June 4th. Avery Dennison's payout ratio is 43.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AVY shares. Jefferies Financial Group started coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Argus lowered shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird decreased 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 note on Thursday, April 24th. Barclays decreased their price target on shares of Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group decreased 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 note on Monday, April 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus 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.