Avery Dennison Corp (NYSE:AVY) Director Dean A. Scarborough sold 30,000 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $110.48, for a total transaction of $3,314,400.00. Following the completion of the sale, the director now directly owns 136,953 shares in the company, valued at $15,130,567.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Avery Dennison stock traded down $3.30 during trading on Thursday, reaching $106.84. 671,691 shares of the company were exchanged, compared to its average volume of 703,413. The stock has a market cap of $9,738.89, a price-to-earnings ratio of 34.20, a P/E/G ratio of 2.69 and a beta of 1.20. Avery Dennison Corp has a 12 month low of $78.61 and a 12 month high of $123.67. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83.
Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. equities analysts predict that Avery Dennison Corp will post 5.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, March 6th. Avery Dennison’s dividend payout ratio (DPR) is presently 57.51%.
A number of research firms recently weighed in on AVY. UBS began coverage on shares of Avery Dennison in a research report on Thursday, January 18th. They issued a “buy” rating and a $135.00 price objective on the stock. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Bank of America increased their price objective on shares of Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised shares of Avery Dennison from an “underweight” rating to a “neutral” rating in a research report on Monday, February 12th. Finally, Barclays increased their price objective on shares of Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $122.00.
Several large investors have recently modified their holdings of AVY. APG Asset Management N.V. increased its position in shares of Avery Dennison by 125.4% during 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 acquiring an additional 637,000 shares during the period. KAMES CAPITAL plc purchased a new position in Avery Dennison during the fourth quarter valued at approximately $71,586,000. Atlantic Trust Group LLC increased its holdings in Avery Dennison by 3,229.7% during the third quarter. Atlantic Trust Group LLC now owns 357,606 shares of the industrial products company’s stock valued at $35,167,000 after buying an additional 346,866 shares during the period. Allianz Asset Management GmbH increased its holdings in Avery Dennison by 91.9% during the fourth quarter. Allianz Asset Management GmbH now owns 673,503 shares of the industrial products company’s stock valued at $77,358,000 after buying an additional 322,518 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Avery Dennison by 24.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock valued at $136,247,000 after buying an additional 233,134 shares during the period. 85.95% of the stock is currently owned by institutional investors and hedge funds.
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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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