Qsemble Capital Management LP Purchases 462 Shares of Avery Dennison Co. (NYSE:AVY)

Qsemble Capital Management LP lifted its position in shares of Avery Dennison Co. (NYSE:AVY) by 10.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,806 shares of the industrial products company’s stock after purchasing an additional 462 shares during the period. Qsemble Capital Management LP’s holdings in Avery Dennison were worth $1,061,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth approximately $28,000. Larson Financial Group LLC lifted its holdings 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 worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank bought a new position in Avery Dennison in the 3rd quarter valued at $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison during the 2nd quarter worth $42,000. 94.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective 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. Citigroup decreased their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and raised their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $204.71 on Wednesday. The stock has a fifty day moving average of $210.21 and a 200-day moving average of $216.41. The stock has a market cap of $16.45 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a fifty-two week low of $187.93 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share 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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is presently 42.26%.

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.