Avery Dennison Corporation (NYSE:AVY) CAO Lori J. Bondar sold 10,855 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $110.88, for a total value of $1,203,602.40. Following the completion of the transaction, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Avery Dennison Corporation (NYSE AVY) traded up $0.84 during midday trading on Thursday, hitting $112.35. The stock had a trading volume of 638,605 shares, compared to its average volume of 659,997. Avery Dennison Corporation has a 52-week low of $69.53 and a 52-week high of $114.79. The company has a market cap of $9,966.60, a P/E ratio of 24.24, a P/E/G ratio of 3.28 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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. Avery Dennison’s quarterly revenue was up 11.3% compared to the same quarter last year. equities analysts expect that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, December 5th. This represents a $1.80 annualized dividend and a yield of 1.60%. Avery Dennison’s payout ratio is presently 40.18%.
Several research firms have weighed in on AVY. Zacks Investment Research upgraded Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Tuesday, November 7th. Barclays increased their target price on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $115.00 target price on shares of Avery Dennison in a research report on Friday, October 27th. Finally, Loop Capital increased their target price on Avery Dennison from $99.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $110.83.
A number of large investors have recently added to or reduced their stakes in AVY. Principal Financial Group Inc. raised its holdings in Avery Dennison by 110.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock valued at $155,476,000 after buying an additional 923,548 shares during the period. Congress Asset Management Co. MA purchased a new stake in Avery Dennison in the second quarter worth $71,964,000. State of Tennessee Treasury Department increased its stake in Avery Dennison by 265.7% in the third quarter. State of Tennessee Treasury Department now owns 490,850 shares of the industrial products company’s stock worth $48,270,000 after purchasing an additional 356,628 shares during the period. Victory Capital Management Inc. increased its stake in Avery Dennison by 21.3% in the second quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock worth $171,216,000 after purchasing an additional 340,139 shares during the period. Finally, Marshall Wace North America L.P. increased its stake in Avery Dennison by 67.9% in the second quarter. Marshall Wace North America L.P. now owns 648,482 shares of the industrial products company’s stock worth $57,067,000 after purchasing an additional 262,211 shares during the period. Institutional investors own 85.28% 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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