Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,579 shares of the industrial products company’s stock after selling 55 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Avery Dennison Corporation were worth $581,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. purchased a new stake in Avery Dennison Corporation during the 1st quarter worth about $105,000. Van ECK Associates Corp increased its position in Avery Dennison Corporation by 7.7% during the 1st quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 94 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Avery Dennison Corporation by 21.1% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 303 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Avery Dennison Corporation during the 2nd quarter worth about $141,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Avery Dennison Corporation during the 1st quarter worth about $171,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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AVY has been the subject of a number of recent research reports. Zacks Investment Research upgraded Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Monday, May 22nd. Aegis reiterated a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. BidaskClub cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. Finally, Citigroup Inc. lifted their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $92.86.

In related news, Director David E. I. Pyott sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the transaction, the director now directly owns 16,601 shares of the company’s stock, valued at $1,560,494. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David E. I. Pyott sold 298 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $94.00, for a total value of $28,012.00. Following the transaction, the director now directly owns 16,601 shares in the company, valued at $1,560,494. The disclosure for this sale can be found here. Insiders have sold 12,298 shares of company stock worth $1,152,312 over the last three months. 1.40% of the stock is owned by insiders.

Shares of Avery Dennison Corporation (AVY) opened at 98.91 on Tuesday. The firm has a 50-day moving average price of $93.86 and a 200 day moving average price of $86.91. Avery Dennison Corporation has a 12-month low of $68.55 and a 12-month high of $99.26. The stock has a market cap of $8.74 billion, a PE ratio of 23.23 and a beta of 1.18.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s payout ratio is 42.25%.

Avery Dennison Corporation Company Profile

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).

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

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