B. Riley Wealth Advisors Inc. Sells 62 Shares of Avery Dennison Co. (NYSE:AVY)

B. Riley Wealth Advisors Inc. lessened its position in Avery Dennison Co. (NYSE:AVY) by 4.7% in the third quarter, Holdings Channel.com reports. The firm owned 1,261 shares of the industrial products company’s stock after selling 62 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Avery Dennison were worth $274,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after buying an additional 157,754 shares during the period. Victory Capital Management Inc. grew its stake in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. increased its holdings in Avery Dennison by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after purchasing an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its position in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after purchasing an additional 32,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after buying an additional 3,118 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. BMO Capital Markets decreased their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Barclays lowered their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the stock 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 given a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Trading Up 1.0 %

Shares of AVY stock opened at $188.13 on Friday. Avery Dennison Co. has a 52-week low of $185.73 and a 52-week high of $233.48. The company has a 50-day simple moving average of $203.88 and a two-hundred day simple moving average of $213.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company posted $2.10 earnings per share. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Avery Dennison Company 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.