Avery Dennison Corporation (AVY) Reaches New 1-Year High at $106.87

Avery Dennison Corporation (NYSE:AVY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $106.87 and last traded at $106.95, with a volume of 258,434 shares. The stock had previously closed at $106.17.

Several research firms have issued reports on AVY. Zacks Investment Research lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC lifted their price target on shares of Avery Dennison Corporation from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Monday. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price target on shares of Avery Dennison Corporation in a report on Friday, October 27th. Finally, Loop Capital lifted their price target on shares of Avery Dennison Corporation from $99.00 to $106.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Avery Dennison Corporation presently has an average rating of “Buy” and an average target price of $105.29.

The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 25.20 and a beta of 1.19. The company has a 50 day moving average of $100.09 and a 200-day moving average of $91.46.

Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.49%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the firm posted $1.01 EPS. Avery Dennison Corporation’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts predict that Avery Dennison Corporation will post $4.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison Corporation’s payout ratio is currently 40.18%.

In other news, Chairman Dean A. Scarborough sold 10,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $104.54, for a total value of $1,045,400.00. Following the completion of the sale, the chairman now owns 94,042 shares in the company, valued at approximately $9,831,150.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David E. I. Pyott sold 298 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $94.00, for a total transaction of $28,012.00. Following the completion of the sale, the director now owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The disclosure for this sale can be found here. Insiders have sold a total of 42,298 shares of company stock worth $4,297,712 over the last three months. 1.40% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. National Asset Management Inc. lifted its stake in shares of Avery Dennison Corporation by 0.3% in the second quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 12 shares during the period. Veritable L.P. lifted its stake in shares of Avery Dennison Corporation by 0.6% in the second quarter. Veritable L.P. now owns 2,777 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 16 shares during the period. Private Trust Co. NA lifted its stake in shares of Avery Dennison Corporation by 0.5% in the second quarter. Private Trust Co. NA now owns 5,327 shares of the industrial products company’s stock valued at $470,000 after purchasing an additional 28 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Avery Dennison Corporation by 0.5% in the second quarter. CIBC Asset Management Inc now owns 8,592 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 39 shares during the period. Finally, Spectrum Management Group Inc. lifted its stake in shares of Avery Dennison Corporation by 0.8% in the second quarter. Spectrum Management Group Inc. now owns 5,030 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 40 shares during the period. Institutional investors own 86.76% of the company’s stock.

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About Avery Dennison Corporation

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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