QRG Capital Management Inc. Purchases 92 Shares of Avery Dennison Co. (NYSE:AVY)

QRG Capital Management Inc. increased its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,243 shares of the industrial products company’s stock after buying an additional 92 shares during the period. QRG Capital Management Inc.’s holdings in Avery Dennison were worth $1,157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service raised its position in shares of Avery Dennison by 3.0% in the 3rd quarter. National Pension Service now owns 123,371 shares of the industrial products company’s stock worth $27,235,000 after acquiring an additional 3,590 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in Avery Dennison during the third quarter worth approximately $312,000. Robeco Institutional Asset Management B.V. increased its holdings in Avery Dennison by 72.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company’s stock worth $21,389,000 after purchasing an additional 40,824 shares in the last quarter. Fort L.P. bought a new position in shares of Avery Dennison during the 3rd quarter worth approximately $205,000. Finally, Van ECK Associates Corp grew its position in shares of Avery Dennison by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 13,219 shares of the industrial products company’s stock worth $2,745,000 after buying an additional 1,310 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $205.05 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a market cap of $16.47 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The stock’s fifty day simple moving average is $214.56 and its two-hundred day simple moving average is $218.01. Avery Dennison Co. has a 1-year low of $176.78 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.10 earnings per share. As a group, analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Analyst Ratings Changes

A number of research firms recently issued reports on AVY. Citigroup dropped their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Barclays reduced their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,108 shares of company stock worth $8,561,057. 1.10% of the stock is owned by company insiders.

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.