Alliance Wealth Advisors LLC UT Lowers Stake in Avery Dennison Co. (NYSE:AVY)

Alliance Wealth Advisors LLC UT lessened its holdings in Avery Dennison Co. (NYSE:AVY) by 26.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,309 shares of the industrial products company’s stock after selling 1,187 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Avery Dennison were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison in the 3rd quarter valued at $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison in the 3rd quarter worth $39,000. Raleigh Capital Management Inc. lifted its holdings in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares in the last quarter. Finally, Spire Wealth Management grew its position in shares of Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $182.75 on Wednesday. The firm has a 50 day simple moving average of $192.72 and a 200-day simple moving average of $205.59. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a 1-year low of $179.20 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, analysts expect that Avery Dennison Co. will post 10.03 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.93%. Avery Dennison’s payout ratio is currently 40.37%.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the company’s 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 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Raymond James restated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Citigroup lowered their target price 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $227.15.

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.