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

RMR Wealth Builders increased its holdings in Avery Dennison Co. (NYSE:AVY) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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).

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the period. Kennebec Savings Bank purchased a new stake in Avery Dennison in the third quarter worth about $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison in the third quarter worth about $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison in the second quarter worth about $42,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $184.83 on Friday. Avery Dennison Co. has a twelve month low of $181.99 and a twelve month high of $233.48. The firm has a market cap of $14.85 billion, a P/E ratio of 22.19, a PEG ratio of 1.52 and a beta of 0.89. The company has a 50 day moving average of $196.62 and a 200 day moving average of $208.99. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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 previous year, the business earned $2.10 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison 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 completion of the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The transaction 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.

Analysts Set New Price Targets

Several analysts have commented on AVY shares. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial lowered their price objective 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. Bank of America lowered their target price 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. UBS Group lowered their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday. Finally, Barclays lowered their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $235.05.

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.