Avery Dennison Corporation (NYSE:AVY) Chairman Dean A. Scarborough sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $105.88, for a total transaction of $1,058,800.00. Following the completion of the transaction, the chairman now owns 74,042 shares in the company, valued at $7,839,566.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Avery Dennison Corporation (AVY) opened at $105.19 on Monday. The firm has a market capitalization of $9,260.55, a PE ratio of 22.52, a PEG ratio of 3.05 and a beta of 1.22. 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 Corporation has a 52 week low of $68.93 and a 52 week high of $108.99.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $1.01 EPS. Avery Dennison Corporation’s revenue for the quarter was up 11.3% on a year-over-year basis. sell-side analysts anticipate that Avery Dennison Corporation will post 4.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.80 annualized dividend and a yield of 1.71%. Avery Dennison Corporation’s dividend payout ratio is presently 40.18%.
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A number of hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd increased its holdings in Avery Dennison Corporation by 13.9% during the 3rd quarter. WINTON GROUP Ltd now owns 34,970 shares of the industrial products company’s stock worth $3,439,000 after purchasing an additional 4,262 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Avery Dennison Corporation by 9.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,188 shares of the industrial products company’s stock valued at $707,000 after acquiring an additional 609 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Avery Dennison Corporation by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 518,127 shares of the industrial products company’s stock valued at $50,954,000 after acquiring an additional 14,369 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Avery Dennison Corporation by 4.3% in the 3rd quarter. Nordea Investment Management AB now owns 131,073 shares of the industrial products company’s stock valued at $12,890,000 after acquiring an additional 5,375 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in shares of Avery Dennison Corporation by 12.8% in the 3rd quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock valued at $2,061,000 after acquiring an additional 2,377 shares during the last quarter. Institutional investors own 86.43% of the company’s stock.
A number of research firms have commented on AVY. Zacks Investment Research raised Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday, November 7th. Barclays PLC raised their price target on Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Monday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison Corporation in a research report on Friday, October 27th. Finally, Loop Capital lifted their price objective on Avery Dennison Corporation from $99.00 to $106.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $105.71.
Avery Dennison Corporation Company Profile
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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