Avery Dennison Corporation (NYSE:AVY) Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the transaction, the director now owns 26,703 shares of the company’s stock, valued at $3,064,436.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Avery Dennison Corporation (NYSE AVY) opened at $115.91 on Friday. Avery Dennison Corporation has a 52 week low of $69.53 and a 52 week high of $116.13. The stock has a market capitalization of $10,060.80, a price-to-earnings ratio of 24.47, a PEG ratio of 3.31 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. research analysts expect that Avery Dennison Corporation will post 4.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. Avery Dennison’s payout ratio is 40.18%.
Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its stake in shares of Avery Dennison by 4.0% in the third quarter. Parametric Portfolio Associates LLC now owns 386,686 shares of the industrial products company’s stock worth $38,027,000 after purchasing an additional 15,005 shares in the last quarter. Optimum Investment Advisors bought a new position in shares of Avery Dennison in the third quarter worth $221,000. Visionary Asset Management Inc. grew its stake in shares of Avery Dennison by 67.8% in the third quarter. Visionary Asset Management Inc. now owns 6,410 shares of the industrial products company’s stock worth $630,000 after purchasing an additional 2,589 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Avery Dennison by 16.2% in the third quarter. Public Employees Retirement System of Ohio now owns 48,494 shares of the industrial products company’s stock worth $4,769,000 after purchasing an additional 6,752 shares in the last quarter. Finally, Cypress Capital Group grew its stake in shares of Avery Dennison by 18.5% in the third quarter. Cypress Capital Group now owns 51,105 shares of the industrial products company’s stock worth $5,026,000 after purchasing an additional 7,986 shares in the last quarter. 85.42% of the stock is owned by institutional investors.
A number of brokerages recently commented on AVY. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research note on Monday, October 30th. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. J P Morgan Chase & Co downgraded Avery Dennison from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Loop Capital upped their price objective on Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, Barclays upped their price objective on Avery Dennison from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $110.83.
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About Avery Dennison
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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