Avery Dennison Corp (NYSE:AVY) Director Anthony Anderson sold 2,150 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $114.54, for a total value of $246,261.00. Following the sale, the director now owns 2,862 shares of the company’s stock, valued at approximately $327,813.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE AVY traded down $0.77 during trading hours on Monday, reaching $113.42. The stock had a trading volume of 272,508 shares, compared to its average volume of 595,520. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.10 and a beta of 1.33. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 1.41. Avery Dennison Corp has a fifty-two week low of $82.89 and a fifty-two week high of $120.65. The firm has a 50-day moving average of $113.64 and a 200-day moving average of $111.23.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.68 by $0.04. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.83 billion. Avery Dennison had a return on equity of 52.67% and a net margin of 3.44%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. On average, equities analysts predict that Avery Dennison Corp will post 6.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.05%. Avery Dennison’s payout ratio is 38.28%.
AVY has been the topic of several recent analyst reports. Bank of America lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and set a $115.06 price target on the stock. in a research note on Friday, July 12th. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $105.00 to $111.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 24th. Berenberg Bank began coverage on shares of Avery Dennison in a report on Thursday, August 15th. They issued a “buy” rating and a $130.00 target price for the company. Finally, Citigroup increased their target price on shares of Avery Dennison from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $121.23.
Hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC purchased a new position in Avery Dennison during the first quarter worth about $36,000. TRUE Private Wealth Advisors acquired a new position in Avery Dennison during the 2nd quarter worth approximately $40,000. Amica Retiree Medical Trust purchased a new position in shares of Avery Dennison during the 2nd quarter worth approximately $44,000. CSat Investment Advisory L.P. raised its stake in shares of Avery Dennison by 57.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock worth $53,000 after buying an additional 168 shares in the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in shares of Avery Dennison in the 2nd quarter valued at approximately $55,000. Hedge funds and other institutional investors own 88.66% of the company’s stock.
Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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