Texas Permanent School Fund reduced its stake in Avery Dennison Corporation (NYSE:AVY) by 4.8% during the second quarter, Holdings Channel reports. The firm owned 24,882 shares of the industrial products company’s stock after selling 1,249 shares during the period. Texas Permanent School Fund’s holdings in Avery Dennison Corporation were worth $2,199,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Avery Dennison Corporation by 3,215.2% in the first quarter. BlackRock Inc. now owns 6,908,540 shares of the industrial products company’s stock valued at $556,829,000 after buying an additional 6,700,152 shares during the period. Congress Asset Management Co. MA acquired a new position in shares of Avery Dennison Corporation during the second quarter valued at $71,964,000. Westfield Capital Management Co. LP acquired a new position in shares of Avery Dennison Corporation during the first quarter valued at $51,499,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Avery Dennison Corporation during the first quarter valued at $31,288,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Avery Dennison Corporation during the first quarter valued at $31,288,000. Institutional investors own 87.60% of the company’s stock.

Shares of Avery Dennison Corporation (NYSE:AVY) opened at 91.93 on Friday. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $96.70. The firm has a market cap of $8.13 billion, a PE ratio of 21.60 and a beta of 1.18. The stock’s 50 day moving average is $91.65 and its 200-day moving average is $83.86.

Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that Avery Dennison Corporation will post $4.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.

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Several equities analysts recently weighed in on AVY shares. Citigroup Inc. increased their price target on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Monday, June 5th. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $96.00 in a report on Tuesday, June 20th. BidaskClub upgraded shares of Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Finally, Aegis reiterated a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Avery Dennison Corporation has an average rating of “Buy” and an average price target of $91.67.

In other news, Director Anthony Anderson sold 950 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $84.42, for a total value of $80,199.00. Following the transaction, the director now owns 7,492 shares of the company’s stock, valued at $632,474.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Deon Stander sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $84.50, for a total value of $422,500.00. Following the completion of the transaction, the vice president now directly owns 10,998 shares in the company, valued at approximately $929,331. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,198 shares of company stock valued at $1,971,016. 1.40% of the stock is owned by company insiders.

About Avery Dennison Corporation

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

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