1,166 Shares in Avery Dennison Co. (NYSE:AVY) Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,166 shares of the industrial products company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC increased its stake in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in Avery Dennison in the third quarter valued at $39,000. Raleigh Capital Management Inc. raised its holdings in shares of 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 during the period. Finally, Brooklyn Investment Group bought a new position in shares of Avery Dennison during the 3rd quarter worth about $66,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Down 0.1 %

Avery Dennison stock opened at $191.07 on Friday. Avery Dennison Co. has a fifty-two week low of $181.99 and a fifty-two week 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. The firm’s 50-day simple moving average is $195.08 and its 200 day simple moving average is $207.86. The stock has a market cap of $15.35 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its earnings results 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. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 EPS. Research analysts predict that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial lowered their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Barclays reduced their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Bank of America dropped their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group reduced their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Avery Dennison has a consensus 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.