Centurion Wealth Management LLC Boosts Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Centurion Wealth Management LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 8.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,561 shares of the industrial products company’s stock after acquiring an additional 120 shares during the period. Centurion Wealth Management LLC’s holdings in Avery Dennison were worth $292,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after purchasing an additional 157,754 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Avery Dennison by 21.4% during the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after purchasing an additional 134,560 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after purchasing an additional 3,118 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Avery Dennison by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company’s stock valued at $130,821,000 after purchasing an additional 10,674 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Avery Dennison by 0.8% during the third quarter. Principal Financial Group Inc. now owns 617,611 shares of the industrial products company’s stock valued at $136,338,000 after purchasing an additional 4,670 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Up 1.7 %

AVY stock opened at $178.91 on Friday. The company has a market capitalization of $14.13 billion, a PE ratio of 20.52, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12 month low of $174.91 and a 12 month high of $233.48. The firm’s 50-day moving average is $185.49 and its 200 day moving average is $199.52. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research report on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup lowered their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Raymond James restated an “outperform” rating and issued a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

About Avery Dennison

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.