Avery Dennison Corporation (AVY) Chairman Dean A. Scarborough Sells 10,000 Shares

Avery Dennison Corporation (NYSE:AVY) Chairman Dean A. Scarborough sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $104.54, for a total transaction of $1,045,400.00. Following the sale, the chairman now owns 94,042 shares in the company, valued at approximately $9,831,150.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avery Dennison Corporation (AVY) opened at 105.32 on Tuesday. The firm has a 50 day moving average of $99.75 and a 200-day moving average of $91.35. Avery Dennison Corporation has a one year low of $68.68 and a one year high of $106.24. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 24.74 and a beta of 1.19.

Avery Dennison Corporation (NYSE:AVY) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.49%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Avery Dennison Corporation will post $4.88 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio is currently 40.18%.

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A number of analysts recently issued reports on AVY shares. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “sell” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Friday. Robert W. Baird reiterated a “buy” rating and issued a $115.00 price target on shares of Avery Dennison Corporation in a report on Friday. Citigroup Inc. lifted their price target on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison Corporation in a report on Monday. Finally, Loop Capital initiated coverage on shares of Avery Dennison Corporation in a report on Thursday, September 28th. They issued a “hold” rating and a $99.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $105.29.

Large investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in Avery Dennison Corporation during the 2nd quarter valued at $129,000. Captrust Financial Advisors acquired a new position in Avery Dennison Corporation during the 2nd quarter valued at $130,000. Pacad Investment Ltd. acquired a new position in Avery Dennison Corporation during the 2nd quarter valued at $141,000. Conning Inc. acquired a new position in Avery Dennison Corporation during the 3rd quarter valued at $200,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Avery Dennison Corporation during the 3rd quarter valued at $213,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Avery Dennison Corporation Company Profile

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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