Schroder Investment Management Group boosted its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 91.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 143,577 shares of the industrial products company’s stock after buying an additional 68,667 shares during the period. Schroder Investment Management Group’s holdings in Avery Dennison were worth $14,449,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Avery Dennison by 316.5% in the 2nd quarter. Jane Street Group LLC now owns 14,927 shares of the industrial products company’s stock valued at $1,524,000 after purchasing an additional 11,343 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Avery Dennison by 29.1% in the 2nd quarter. California Public Employees Retirement System now owns 399,121 shares of the industrial products company’s stock valued at $40,750,000 after purchasing an additional 90,023 shares during the last quarter. Putnam Investments LLC increased its position in shares of Avery Dennison by 3.5% in the 2nd quarter. Putnam Investments LLC now owns 146,401 shares of the industrial products company’s stock valued at $14,948,000 after purchasing an additional 4,945 shares during the last quarter. HPM Partners LLC increased its position in shares of Avery Dennison by 30.6% in the 2nd quarter. HPM Partners LLC now owns 7,397 shares of the industrial products company’s stock valued at $755,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Avery Dennison by 86.1% in the 2nd quarter. Millennium Management LLC now owns 211,855 shares of the industrial products company’s stock valued at $21,630,000 after purchasing an additional 98,045 shares during the last quarter. Institutional investors own 84.58% of the company’s stock.

NYSE AVY opened at $110.07 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.79 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $9.73 billion, a P/E ratio of 19.57, a P/E/G ratio of 2.62 and a beta of 1.25. Avery Dennison Corp has a 12 month low of $98.15 and a 12 month high of $123.67.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 24th. The industrial products company reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.11. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. Avery Dennison had a net margin of 3.83% and a return on equity of 47.47%. The company’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. research analysts forecast that Avery Dennison Corp will post 6.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 19th. Investors of record on Wednesday, September 5th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is 41.60%.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday. Loop Capital increased their price objective on shares of Avery Dennison to $115.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Barclays increased their price objective on shares of Avery Dennison from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. Bank of America increased their price objective on shares of Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Citigroup increased their price objective on shares of Avery Dennison from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $123.78.

In related news, Director Anthony Anderson sold 1,275 shares of the stock in a transaction on Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Georges Gravanis sold 13,000 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $112.67, for a total transaction of $1,464,710.00. Following the completion of the transaction, the insider now directly owns 11,886 shares in the company, valued at $1,339,195.62. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

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

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