JB Capital LLC Buys 756 Shares of Avery Dennison Co. (NYSE:AVY)

JB Capital LLC grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,947 shares of the industrial products company’s stock after buying an additional 756 shares during the period. JB Capital LLC’s holdings in Avery Dennison were worth $2,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empirical Finance LLC increased its holdings in Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after acquiring an additional 55 shares during the period. Procyon Advisors LLC raised its position in shares of Avery Dennison by 4.0% in the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after buying an additional 56 shares in the last quarter. Greenleaf Trust boosted its stake in Avery Dennison by 4.4% during the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock valued at $253,000 after buying an additional 57 shares during the period. AdvisorNet Financial Inc grew its position in Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares in the last quarter. Finally, Lindenwold Advisors INC grew its position in Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $185.85 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market cap of $14.93 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. Avery Dennison Co. has a 12 month low of $179.20 and a 12 month high of $233.48. The company has a 50-day moving average price of $193.21 and a 200-day moving average price of $205.99.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.89%. Avery Dennison’s dividend payout ratio is 40.37%.

Insider Activity

In other Avery Dennison 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 value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVY. Bank of America cut their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays decreased their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Truist Financial reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research report on Friday. BMO Capital Markets cut their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised 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 report on Friday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.96.

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.