MQS Management LLC Makes New $893,000 Investment in Avery Dennison Co. (NYSE:AVY)

MQS Management LLC acquired a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,046 shares of the industrial products company's stock, valued at approximately $893,000. Avery Dennison makes up about 0.5% of MQS Management LLC's holdings, making the stock its 25th largest holding.

A number of other large investors also recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of Avery Dennison in the 2nd quarter valued at approximately $28,000. Kennebec Savings Bank purchased a new position in shares of Avery Dennison during the third quarter valued at approximately $36,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison during the second quarter worth approximately $42,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison in the second quarter worth $51,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock worth $56,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Up 0.2 %

Shares of AVY stock traded up $0.44 on Wednesday, reaching $202.98. The company had a trading volume of 438,265 shares, compared to its average volume of 467,216. 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 $16.31 billion, a PE ratio of 24.36, a PEG ratio of 1.56 and a beta of 0.89. The company has a 50-day moving average of $213.87 and a 200-day moving average of $217.89. Avery Dennison Co. has a 12 month low of $182.68 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the prior year, the business earned $2.10 EPS. Avery Dennison's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.73%. Avery Dennison's payout ratio is 42.26%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the company'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 completion of the transaction, the chairman now owns 304,114 shares of the company's stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the company'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 completion of the transaction, the chairman now owns 304,114 shares of the company's stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the transaction, the chairman now directly owns 304,114 shares of the company's stock, valued at approximately $65,144,259.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,108 shares of company stock valued at $7,940,597. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVY has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Truist Financial increased their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, Citigroup lowered their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $244.96.

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.