Quantinno Capital Management LP Purchases 3,319 Shares of Avery Dennison Co. (NYSE:AVY)

Quantinno Capital Management LP grew its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,681 shares of the industrial products company's stock after purchasing an additional 3,319 shares during the quarter. Quantinno Capital Management LP's holdings in Avery Dennison were worth $4,786,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Innealta Capital LLC bought a new stake in Avery Dennison in the second quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison during the third quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the third quarter worth approximately $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison in the second quarter valued at $42,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Stock Down 0.4 %

Shares of NYSE:AVY traded down $0.79 during trading on Friday, reaching $202.50. 594,624 shares of the company traded hands, compared to its average volume of 500,643. The firm has a fifty day simple moving average of $208.28 and a 200 day simple moving average of $215.28. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 1-year low of $190.04 and a 1-year high of $233.48. The firm has a market cap of $16.27 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating 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 firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. The business's quarterly revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison's payout ratio is presently 42.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America raised Avery Dennison from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Barclays decreased their target price on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Finally, StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $244.96.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company's stock.

Avery Dennison Company Profile

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.