RMR Wealth Builders Acquires 59 Shares of Avery Dennison Co. (NYSE:AVY)

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

A number of other hedge funds have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Avery Dennison by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,998 shares of the industrial products company’s stock valued at $2,058,000 after acquiring an additional 83 shares during the period. Nordea Investment Management AB lifted its stake in shares of 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 valued at $6,715,000 after buying an additional 29,541 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Avery Dennison by 30.0% during the 4th quarter. GAMMA Investing LLC now owns 2,202 shares of the industrial products company’s stock valued at $412,000 after buying an additional 508 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after buying an additional 46,390 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Avery Dennison by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock valued at $136,338,000 after buying an additional 4,670 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AVY. Truist Financial lowered their target price on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America lowered their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets decreased their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup decreased their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.05.

Insider Activity at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Down 1.5 %

Shares of NYSE AVY opened at $184.83 on Friday. The firm’s 50-day moving average price is $196.62 and its 200-day moving average price is $208.99. 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 capitalization of $14.85 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 1.52 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.

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

Avery Dennison Dividend Announcement

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. The ex-dividend date was Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.90%. 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.