Riverwater Partners LLC Has $743,000 Stock Position in Avery Dennison Co. (NYSE:AVY)

Riverwater Partners LLC raised its position in Avery Dennison Co. (NYSE:AVY) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,432 shares of the industrial products company’s stock after buying an additional 408 shares during the period. Riverwater Partners LLC’s holdings in Avery Dennison were worth $743,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison in the second quarter worth $42,000. 1620 Investment Advisors Inc. bought a new stake in shares of Avery Dennison during the second quarter worth $51,000. Raleigh Capital Management Inc. raised its holdings in shares of Avery Dennison by 1,400.0% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in Avery Dennison during the 1st quarter worth about $64,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Trading Down 2.2 %

AVY opened at $207.65 on Thursday. The firm’s fifty day moving average is $217.00 and its two-hundred day moving average is $218.62. The firm has a market cap of $16.73 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVY. Truist Financial boosted 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. BMO Capital Markets restated an “outperform” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. Citigroup decreased their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $246.78.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock valued at $12,545,087 over the last 90 days. 1.10% of the stock is owned by company insiders.

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.