Avery Dennison (NYSE:AVY) Hits New 12-Month Low – Should You Sell?

Avery Dennison Co. (NYSE:AVY)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $178.12 and last traded at $179.14, with a volume of 18659 shares trading hands. The stock had previously closed at $180.15.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVY. UBS Group dropped their target price on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research report on Monday, February 3rd. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Barclays dropped their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Stock Performance

The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 2.07 and a beta of 0.85. The company’s fifty day simple moving average is $185.62 and its two-hundred day simple moving average is $199.91.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.00%. Avery Dennison’s payout ratio is 40.37%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Several institutional investors have recently added to or reduced their stakes in AVY. Atria Investments Inc grew its position in Avery Dennison by 12.2% during the third quarter. Atria Investments Inc now owns 14,058 shares of the industrial products company’s stock valued at $3,103,000 after buying an additional 1,530 shares during the period. Apollon Wealth Management LLC boosted its position in Avery Dennison by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 1,233 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 83 shares during the period. Huntington National Bank boosted its position in Avery Dennison by 3.1% during the third quarter. Huntington National Bank now owns 3,331 shares of the industrial products company’s stock worth $735,000 after purchasing an additional 99 shares during the period. Zions Bancorporation N.A. lifted its holdings in shares of Avery Dennison by 76.2% in the third quarter. Zions Bancorporation N.A. now owns 3,283 shares of the industrial products company’s stock worth $725,000 after buying an additional 1,420 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Avery Dennison by 21.6% in the third quarter. Metis Global Partners LLC now owns 7,311 shares of the industrial products company’s stock worth $1,614,000 after buying an additional 1,297 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

About Avery Dennison

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.