Centurion Wealth Management LLC Raises Stock Position in Avery Dennison Co. (NYSE:AVY)

Centurion Wealth Management LLC lifted its position in Avery Dennison Co. (NYSE:AVY) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,561 shares of the industrial products company’s stock after buying an additional 120 shares during the period. Centurion Wealth Management LLC’s holdings in Avery Dennison were worth $292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC boosted its stake in Avery Dennison by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 83 shares in the last quarter. Huntington National Bank boosted its stake in Avery Dennison by 3.1% in the 3rd quarter. Huntington National Bank now owns 3,331 shares of the industrial products company’s stock worth $735,000 after purchasing an additional 99 shares in the last quarter. Zions Bancorporation N.A. boosted its stake in Avery Dennison by 76.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 3,283 shares of the industrial products company’s stock worth $725,000 after purchasing an additional 1,420 shares in the last quarter. Metis Global Partners LLC boosted its stake in Avery Dennison by 21.6% in the 3rd quarter. Metis Global Partners LLC now owns 7,311 shares of the industrial products company’s stock worth $1,614,000 after purchasing an additional 1,297 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new stake in Avery Dennison in the 3rd quarter worth approximately $207,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AVY shares. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research note on Friday, January 31st. Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $210.00 to $205.00 in a research note on Friday, January 31st. Finally, Truist Financial restated a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Stock Performance

AVY opened at $178.91 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The firm has a fifty day moving average price of $185.49 and a 200 day moving average price of $199.52. Avery Dennison Co. has a 1 year low of $174.91 and a 1 year high of $233.48. The stock has a market cap of $14.13 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.07 and a beta of 0.85.

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 net margin of 8.05% and a return on equity of 33.06%. Equities research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is presently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by 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.