USS Investment Management Ltd Has $9.83 Million Holdings in Avery Dennison Corp (AVY)

USS Investment Management Ltd boosted its holdings in Avery Dennison Corp (NYSE:AVY) by 40.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,800 shares of the industrial products company’s stock after purchasing an additional 26,800 shares during the quarter. USS Investment Management Ltd owned 0.11% of Avery Dennison worth $9,831,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVY. APG Asset Management N.V. raised its stake in Avery Dennison by 125.4% in the 4th quarter. APG Asset Management N.V. now owns 1,145,053 shares of the industrial products company’s stock worth $109,528,000 after purchasing an additional 637,000 shares in the last quarter. Allianz Asset Management GmbH raised its stake in Avery Dennison by 91.9% in the 4th quarter. Allianz Asset Management GmbH now owns 673,503 shares of the industrial products company’s stock worth $77,358,000 after purchasing an additional 322,518 shares in the last quarter. Wells Fargo & Company MN raised its stake in Avery Dennison by 24.5% in the 4th quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock worth $136,247,000 after purchasing an additional 233,134 shares in the last quarter. BlackRock Inc. raised its stake in Avery Dennison by 3.2% in the 4th quarter. BlackRock Inc. now owns 6,761,758 shares of the industrial products company’s stock worth $776,657,000 after purchasing an additional 209,963 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Avery Dennison by 183.8% in the 4th quarter. Teacher Retirement System of Texas now owns 276,770 shares of the industrial products company’s stock worth $31,790,000 after purchasing an additional 179,230 shares in the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

In related news, VP Anne Hill sold 21,134 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.07, for a total transaction of $2,495,291.38. Following the completion of the transaction, the vice president now directly owns 41,863 shares in the company, valued at approximately $4,942,764.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dean A. Scarborough sold 6,026 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $106.11, for a total transaction of $639,418.86. Following the transaction, the director now owns 50,927 shares of the company’s stock, valued at $5,403,863.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,639 shares of company stock valued at $17,963,034. 1.30% of the stock is owned by corporate insiders.

Shares of Avery Dennison opened at $110.66 on Tuesday, Marketbeat reports. The company has a market capitalization of $9.60 billion, a PE ratio of 22.13, a PEG ratio of 2.59 and a beta of 1.27. The company has a quick ratio of 0.79, a current ratio of 1.12 and a debt-to-equity ratio of 1.23. Avery Dennison Corp has a 12 month low of $82.50 and a 12 month high of $123.67.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.08. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Avery Dennison had a net margin of 4.32% and a return on equity of 44.21%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. research analysts expect that Avery Dennison Corp will post 6.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Investors of record on Wednesday, June 6th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.88%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, June 5th. Avery Dennison’s dividend payout ratio is currently 36.00%.

Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research report on Monday. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research report on Wednesday, April 25th. JPMorgan Chase upgraded shares of Avery Dennison from an “underweight” rating to a “neutral” rating and set a $107.00 target price for the company in a research report on Thursday, April 26th. Finally, Loop Capital boosted their target price on shares of Avery Dennison to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 2nd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $123.11.

Avery Dennison Company Profile

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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