RMR Wealth Builders Increases Position in Avery Dennison Co. (NYSE:AVY)

RMR Wealth Builders raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,097 shares of the industrial products company’s stock after buying an additional 59 shares during the period. RMR Wealth Builders’ holdings in Avery Dennison were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Avery Dennison by 485.2% during the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares in the last quarter. Seven Eight Capital LP purchased a new position in Avery Dennison in the second quarter valued at $1,271,000. Icon Wealth Advisors LLC increased its holdings in Avery Dennison by 553.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 2,657 shares during the period. Finally, Bank of Montreal Can raised its position in Avery Dennison by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 250,213 shares of the industrial products company’s stock valued at $57,581,000 after purchasing an additional 4,752 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AVY. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Citigroup cut their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. UBS Group cut their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Truist Financial lowered their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $235.05.

Insider Buying and Selling

In other 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Up 0.4 %

Shares of NYSE AVY opened at $191.04 on Friday. The stock has a fifty day moving average price of $195.36 and a 200 day moving average price of $208.06. The company has a market cap of $15.35 billion, a P/E ratio of 22.93, a P/E/G ratio of 1.29 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $181.99 and a 12-month high of $233.48. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted $2.10 EPS. The company’s revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Avery Dennison 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.