Alliance Wealth Advisors LLC UT Boosts Position in Avery Dennison Co. (NYSE:AVY)

Alliance Wealth Advisors LLC UT grew its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,840 shares of the industrial products company’s stock after buying an additional 56 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Avery Dennison were worth $776,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AVY. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Avery Dennison during the third quarter valued at approximately $32,000. Milestone Investment Advisors LLC purchased a new stake in Avery Dennison in the third quarter worth $36,000. Anchor Investment Management LLC purchased a new stake in Avery Dennison in the fourth quarter worth $42,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. Finally, Adirondack Trust Co. purchased a new stake in Avery Dennison in the third quarter worth $55,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $1.87 during midday trading on Friday, reaching $219.03. 556,567 shares of the company’s stock traded hands, compared to its average volume of 416,428. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87. Avery Dennison Co. has a one year low of $158.93 and a one year high of $225.26. The stock has a 50 day moving average of $215.71 and a 200 day moving average of $200.36.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. As a group, equities research analysts anticipate that Avery Dennison Co. will post 9.26 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is presently 47.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday. Raymond James reaffirmed an “outperform” rating and issued a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Truist Financial boosted their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a report on Friday. Finally, Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Activity

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the transaction, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

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.