VIRGINIA RETIREMENT SYSTEMS ET Al Buys 2,700 Shares of Avery Dennison Corporation $AVY

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Avery Dennison Corporation (NYSE:AVY) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,700 shares of the industrial products company’s stock, valued at approximately $461,000.

A number of other hedge funds have also made changes to their positions in AVY. BlackRock Inc. bought a new position in Avery Dennison during the 2nd quarter valued at about $1,052,464,000. Wellington Management Group LLP boosted its position in Avery Dennison by 9.1% in the second quarter. Wellington Management Group LLP now owns 5,788,479 shares of the industrial products company’s stock valued at $939,760,000 after buying an additional 482,054 shares in the last quarter. Ninety One UK Ltd acquired a new position in Avery Dennison in the third quarter valued at about $341,344,000. Robeco Institutional Asset Management B.V. grew its stake in Avery Dennison by 2,376.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock worth $168,106,000 after buying an additional 945,195 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Avery Dennison by 1.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 956,886 shares of the industrial products company’s stock worth $155,350,000 after buying an additional 17,769 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Down 1.5%

Shares of NYSE AVY opened at $186.81 on Friday. Avery Dennison Corporation has a 12-month low of $152.42 and a 12-month high of $199.54. The firm’s 50-day simple moving average is $174.92 and its 200 day simple moving average is $172.32. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77.

Avery Dennison (NYSE:AVY) last announced its earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.10. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $2.37 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Avery Dennison Corporation will post 10.17 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s payout ratio is 43.29%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Director Andres Alberto Lopez sold 4,000 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $193.80, for a total transaction of $775,200.00. Following the transaction, the director owned 1,147 shares of the company’s stock, valued at approximately $222,288.60. This represents a 77.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nicholas Colisto sold 3,886 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $170.68, for a total value of $663,262.48. Following the completion of the transaction, the senior vice president owned 7,126 shares in the company, valued at $1,216,265.68. The trade was a 35.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Truist Financial decreased their price target on Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Weiss Ratings raised Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on Avery Dennison from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $181.00 price objective on shares of Avery Dennison in a research report on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $201.10.

About Avery Dennison

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage.

The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.

Founded in 1935 by R.