Avery Dennison Co. (NYSE:AVY) Stake Increased by RMR Wealth Builders

RMR Wealth Builders raised its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,097 shares of the industrial products company’s stock after acquiring an additional 59 shares during the quarter. RMR Wealth Builders’ holdings in Avery Dennison were worth $205,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVY. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% in the 3rd 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 in the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison during the third quarter valued at approximately $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison during the 3rd quarter worth approximately $39,000. Raleigh Capital Management Inc. grew its position in shares of Avery Dennison by 1,400.0% in the 3rd 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. Finally, Brooklyn Investment Group bought a new stake in shares of Avery Dennison in the 3rd quarter valued at approximately $66,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVY has been the subject of a number of research reports. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America decreased their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Truist Financial dropped their price target on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.05.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY opened at $191.04 on Friday. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 22.93, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. The stock’s fifty day moving average is $195.36 and its 200-day moving average is $208.06. Avery Dennison Co. has a one year low of $181.99 and a one year high of $233.48. 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 (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business posted $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

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