B. Riley Wealth Advisors Inc. Sells 281 Shares of Avery Dennison Co. (NYSE:AVY)

B. Riley Wealth Advisors Inc. lessened its position in shares of Avery Dennison Co. (NYSE:AVY) by 19.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,139 shares of the industrial products company’s stock after selling 281 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Avery Dennison were worth $230,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Anchor Investment Management LLC acquired a new stake in Avery Dennison in the 4th quarter valued at about $42,000. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the fourth quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Avery Dennison by 250.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 288 shares during the period. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Avery Dennison by 47.2% during the fourth quarter. Salem Investment Counselors Inc. now owns 415 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 133 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVY shares. JPMorgan Chase & Co. lifted their price target on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird upped their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Raymond James reissued an “outperform” rating and issued a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Argus increased their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Truist Financial lifted their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $230.50.

Avery Dennison Stock Down 0.2 %

Shares of AVY stock opened at $223.53 on Friday. The stock has a market cap of $18.01 billion, a P/E ratio of 32.63, a P/E/G ratio of 2.07 and a beta of 0.91. Avery Dennison Co. has a 12 month low of $163.83 and a 12 month high of $231.53. The company has a 50 day simple moving average of $224.00 and a two-hundred day simple moving average of $213.17. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. On average, research analysts expect that Avery Dennison Co. will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.57%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Wednesday, June 5th. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insiders Place Their Bets

In other news, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total value of $129,245.04. Following the sale, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total value of $129,245.04. Following the sale, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gregory Lovins sold 2,894 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $227.20, for a total transaction of $657,516.80. Following the completion of the sale, the chief financial officer now owns 67,457 shares in the company, valued at $15,326,230.40. The disclosure for this sale can be found here. Insiders have sold a total of 12,583 shares of company stock worth $2,856,353 in the last three months. Corporate 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.