Avery Dennison Co. Plans Quarterly Dividend of $0.88 (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors of record on Wednesday, March 5th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, March 19th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, March 5th.

Avery Dennison has raised its dividend payment by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 15 years. Avery Dennison has a payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avery Dennison to earn $10.34 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 34.0%.

Avery Dennison Trading Up 1.8 %

AVY stock traded up $3.36 during mid-day trading on Friday, hitting $185.85. 1,500,282 shares of the company were exchanged, compared to its average volume of 781,268. The business has a fifty day simple moving average of $193.54 and a 200-day simple moving average of $206.34. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison has a 12-month low of $179.20 and a 12-month high of $233.48. The firm has a market capitalization of $14.93 billion, a P/E ratio of 22.31, a PEG ratio of 1.38 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. On average, equities research analysts predict that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVY. Barclays reduced their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Bank of America lowered their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Raymond James reissued an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday. BMO Capital Markets lowered their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $228.96.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.