Wealth Enhancement Advisory Services LLC Acquires 225 Shares of Avery Dennison Co. (NYSE:AVY)

Wealth Enhancement Advisory Services LLC raised its holdings in Avery Dennison Co. (NYSE:AVY) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,915 shares of the industrial products company’s stock after purchasing an additional 225 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Avery Dennison were worth $2,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cetera Investment Advisers raised its holdings in shares of Avery Dennison by 195.2% in the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after buying an additional 11,811 shares during the last quarter. Natixis lifted its position in shares of Avery Dennison by 365.9% during the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 3,575 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Avery Dennison during the first quarter valued at approximately $2,935,000. SG Americas Securities LLC increased its holdings in shares of Avery Dennison by 86.5% in the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after purchasing an additional 15,092 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new position in Avery Dennison in the 2nd quarter worth approximately $543,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVY. Stifel Nicolaus assumed coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price for the company. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and increased their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Trading Down 0.4 %

AVY opened at $206.11 on Friday. The firm’s fifty day moving average is $215.91 and its two-hundred day moving average is $218.24. The firm has a market cap of $16.56 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.60 and a beta of 0.88. Avery Dennison Co. has a twelve month low of $175.10 and a twelve month 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 data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the business posted $2.10 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $64,444,797.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,108 shares of company stock valued at $10,407,587. Company insiders own 1.10% of the company’s stock.

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.