Schroder Investment Management Group Purchases 96,428 Shares of Avery Dennison Co. (NYSE:AVY)

Schroder Investment Management Group grew its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 34.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 378,060 shares of the industrial products company's stock after purchasing an additional 96,428 shares during the quarter. Schroder Investment Management Group owned approximately 0.47% of Avery Dennison worth $70,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Glenmede Trust Co. NA increased its holdings in Avery Dennison by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 8,523 shares of the industrial products company's stock valued at $1,882,000 after purchasing an additional 297 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Avery Dennison by 34.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,128 shares of the industrial products company's stock valued at $5,326,000 after buying an additional 6,150 shares during the period. Edgestream Partners L.P. raised its holdings in shares of Avery Dennison by 63.5% during the third quarter. Edgestream Partners L.P. now owns 8,424 shares of the industrial products company's stock valued at $1,860,000 after acquiring an additional 3,272 shares in the last quarter. Centiva Capital LP raised its holdings in shares of Avery Dennison by 73.0% during the third quarter. Centiva Capital LP now owns 4,302 shares of the industrial products company's stock valued at $950,000 after acquiring an additional 1,816 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in Avery Dennison in the third quarter valued at $8,372,000. Institutional investors own 94.17% of the company's stock.

Remove Ads

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.84% of the company's stock.

Avery Dennison Stock Down 3.4 %

Avery Dennison stock traded down $6.04 during mid-day trading on Friday, hitting $170.30. The company had a trading volume of 1,781,064 shares, compared to its average volume of 552,960. Avery Dennison Co. has a 12 month low of $168.77 and a 12 month high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The stock's 50 day moving average price is $181.82 and its two-hundred day moving average price is $195.09. The company has a market capitalization of $13.45 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 2.07%. Avery Dennison's dividend payout ratio is 40.37%.

Analyst Upgrades and Downgrades

AVY has been the subject of several research reports. Raymond James restated an "outperform" rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Barclays cut their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Robert W. Baird set a $220.00 target price on Avery Dennison in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus price target of $222.51.

About Avery Dennison

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.