Avery Dennison Corp (NYSE:AVY) Director Dean A. Scarborough sold 10,000 shares of Avery Dennison stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $111.17, for a total value of $1,111,700.00. Following the sale, the director now directly owns 136,953 shares of the company’s stock, valued at approximately $15,225,065.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Avery Dennison stock traded down $3.30 on Thursday, hitting $106.84. The stock had a trading volume of 671,691 shares, compared to its average volume of 703,413. The stock has a market capitalization of $9,738.89, a P/E ratio of 34.20, a P/E/G ratio of 2.69 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. Avery Dennison Corp has a 1 year low of $78.61 and a 1 year high of $123.67.
Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. analysts expect that Avery Dennison Corp will post 5.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were issued a $0.45 dividend. The ex-dividend date was Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.68%. Avery Dennison’s dividend payout ratio is currently 57.51%.
Several brokerages have issued reports on AVY. UBS began coverage on Avery Dennison in a research note on Thursday, January 18th. They set a “buy” rating and a $135.00 price target for the company. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Bank of America lifted their price target on Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised Avery Dennison from an “underweight” rating to a “neutral” rating in a research note on Monday, February 12th. Finally, Barclays lifted their price target on Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $122.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVY. APG Asset Management N.V. increased its holdings in shares of Avery Dennison by 125.4% in the fourth quarter. APG Asset Management N.V. now owns 1,145,053 shares of the industrial products company’s stock worth $109,528,000 after buying an additional 637,000 shares during the period. KAMES CAPITAL plc purchased a new position in shares of Avery Dennison in the fourth quarter worth about $71,586,000. Atlantic Trust Group LLC increased its holdings in shares of Avery Dennison by 3,229.7% in the third quarter. Atlantic Trust Group LLC now owns 357,606 shares of the industrial products company’s stock worth $35,167,000 after buying an additional 346,866 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Avery Dennison by 91.9% in the fourth quarter. Allianz Asset Management GmbH now owns 673,503 shares of the industrial products company’s stock worth $77,358,000 after buying an additional 322,518 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Avery Dennison by 24.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock worth $136,247,000 after buying an additional 233,134 shares during the period. Hedge funds and other institutional investors own 85.95% of the company’s stock.
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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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