Alliance Wealth Advisors LLC UT Raises Holdings in Avery Dennison Co. (NYSE:AVY)

Alliance Wealth Advisors LLC UT grew its position in Avery Dennison Co. (NYSE:AVY) by 1.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,840 shares of the industrial products company’s stock after purchasing an additional 56 shares during the quarter. 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 made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of Avery Dennison by 22.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock worth $487,857,000 after buying an additional 493,857 shares during the period. Morgan Stanley raised its position in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock worth $326,673,000 after acquiring an additional 639,521 shares in the last quarter. Cerity Partners LLC raised its position in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares in the last quarter. Truist Financial Corp raised its position in shares of Avery Dennison by 5.5% in the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock worth $200,302,000 after acquiring an additional 57,106 shares in the last quarter. Finally, Boston Partners raised its position in shares of Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock worth $184,026,000 after acquiring an additional 307,325 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

Shares of AVY traded up $1.87 during mid-day trading on Friday, reaching $219.03. The company had a trading volume of 556,567 shares, compared to its average volume of 416,428. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $225.26. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $17.64 billion, a P/E ratio of 31.97, a PEG ratio of 3.35 and a beta of 0.90. The stock has a 50 day moving average of $215.71 and a two-hundred day moving average of $200.36.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.16. The company 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%. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 earnings per share. On average, analysts expect that Avery Dennison Co. will post 9.26 earnings per share for the current year.

Avery Dennison Increases Dividend

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

Wall Street Analyst Weigh In

AVY has been the subject of several recent research reports. Robert W. Baird boosted their price target on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. Truist Financial upped their target price on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Friday. UBS Group upped their target price on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Citigroup upped their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $224.00.

Insider Buying and Selling at Avery Dennison

In related news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 over the last quarter. 1.10% of the stock is currently owned by 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.