USS Investment Management Ltd purchased a new position in Avery Dennison Corporation (NYSE:AVY) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 67,000 shares of the industrial products company’s stock, valued at approximately $7,697,000.
A number of other hedge funds also recently bought and sold shares of AVY. Cambridge Investment Research Advisors Inc. purchased a new position in Avery Dennison in the 2nd quarter worth about $207,000. Oppenheimer & Co. Inc. purchased a new position in Avery Dennison in the 2nd quarter worth about $249,000. TIAA CREF Investment Management LLC increased its stake in Avery Dennison by 16.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 692,837 shares of the industrial products company’s stock worth $61,226,000 after buying an additional 95,767 shares during the period. Ameriprise Financial Inc. increased its stake in Avery Dennison by 66.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 251,241 shares of the industrial products company’s stock worth $22,210,000 after buying an additional 100,726 shares during the period. Finally, Amalgamated Bank increased its stake in Avery Dennison by 23.7% in the 2nd quarter. Amalgamated Bank now owns 17,802 shares of the industrial products company’s stock worth $1,573,000 after buying an additional 3,407 shares during the period. 84.92% of the stock is currently owned by institutional investors.
Avery Dennison Corporation (NYSE:AVY) opened at $117.38 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The company has a market cap of $10,507.14, a PE ratio of 26.20, a price-to-earnings-growth ratio of 3.12 and a beta of 1.24. Avery Dennison Corporation has a 12-month low of $71.71 and a 12-month high of $120.32.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.18%.
In other news, CAO Lori J. Bondar sold 10,855 shares of Avery Dennison stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $110.88, for a total value of $1,203,602.40. Following the transaction, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter K. Barker sold 2,000 shares of Avery Dennison stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total transaction of $229,520.00. Following the completion of the transaction, the director now directly owns 26,703 shares in the company, valued at approximately $3,064,436.28. The disclosure for this sale can be found here. Insiders have sold a total of 154,604 shares of company stock worth $16,475,271 in the last three months. Insiders own 1.40% of the company’s stock.
Several research analysts recently commented on AVY shares. Zacks Investment Research raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research report on Friday, September 22nd. Barclays raised their target price on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, Robert W. Baird reissued a “buy” rating and set a $115.00 target price on shares of Avery Dennison in a research report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $112.83.
Avery Dennison 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).
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