Avery Dennison Co. (NYSE:AVY) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 6.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,323 shares of the industrial products company’s stock after selling 97 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Avery Dennison were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AVY. Quarry LP boosted its holdings in Avery Dennison by 1,814.3% in the 2nd quarter. Quarry LP now owns 536 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 508 shares during the last quarter. Coastal Bridge Advisors LLC acquired a new position in Avery Dennison in the second quarter valued at approximately $269,000. NewEdge Advisors LLC grew its position in Avery Dennison by 5.4% in the second quarter. NewEdge Advisors LLC now owns 176,862 shares of the industrial products company’s stock worth $38,671,000 after acquiring an additional 9,088 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Avery Dennison during the second quarter worth $506,000. Finally, Mackenzie Financial Corp raised its position in Avery Dennison by 9.6% in the second quarter. Mackenzie Financial Corp now owns 12,408 shares of the industrial products company’s stock valued at $2,713,000 after purchasing an additional 1,090 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $214.47 on Wednesday. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The company has a market cap of $17.28 billion, a P/E ratio of 31.31, a PEG ratio of 1.78 and a beta of 0.88. The firm has a fifty day moving average price of $215.38 and a 200 day moving average price of $218.99.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 EPS. Sell-side analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s payout ratio is 51.39%.

Wall Street Analysts Forecast Growth

AVY has been the subject of a number of research analyst reports. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Truist Financial increased their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup reduced their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. Finally, Barclays initiated coverage on Avery Dennison in a research report on Monday. They issued an “overweight” rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.96.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’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 transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The shares were 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 owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

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.