Avery Dennison Co. (NYSE:AVY) Chairman Sells $2,137,500.00 in Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Avery Dennison Stock Down 1.7 %

Avery Dennison stock opened at $210.38 on Monday. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 30.71, a P/E/G ratio of 1.77 and a beta of 0.88. The firm has a 50 day simple moving average of $221.47 and a 200 day simple moving average of $216.79. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 earnings per share. On average, analysts predict that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.67%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC raised its holdings in shares of Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after acquiring an additional 1,163,264 shares in the last quarter. Norges Bank purchased a new stake in shares of Avery Dennison in the 4th quarter worth about $185,292,000. Swedbank AB bought a new stake in shares of Avery Dennison during the 1st quarter valued at about $102,117,000. Corient Private Wealth LLC boosted its stake in shares of Avery Dennison by 1,429.4% during the 4th quarter. Corient Private Wealth LLC now owns 262,697 shares of the industrial products company’s stock valued at $53,107,000 after purchasing an additional 245,520 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Avery Dennison during the first quarter valued at about $44,837,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AVY. JPMorgan Chase & Co. boosted their price objective on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Citigroup increased their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Finally, Argus lifted their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.96.

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.