Avery Dennison Corporation (NYSE:AVY) insider Dean A. Scarborough sold 20,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $105.00, for a total value of $2,100,000.00. Following the completion of the sale, the insider now directly owns 94,042 shares of the company’s stock, valued at approximately $9,874,410. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results 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 firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s payout ratio is currently 40.18%.
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A number of analysts have commented on AVY shares. Zacks Investment Research cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays PLC lifted their price objective on Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research note on Monday. Robert W. Baird restated a “buy” rating and issued a $115.00 price target on shares of Avery Dennison Corporation in a research note on Friday, October 27th. Finally, Loop Capital lifted their price target on Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $105.29.
Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter valued at about $129,000. Captrust Financial Advisors acquired a new position in Avery Dennison Corporation during the 2nd quarter valued at about $130,000. Pacad Investment Ltd. acquired a new position in Avery Dennison Corporation during the 2nd quarter valued at about $141,000. Conning Inc. acquired a new position in Avery Dennison Corporation during the 3rd quarter valued at about $200,000. Finally, Advisor Partners LLC acquired a new position in Avery Dennison Corporation during the 2nd quarter valued at about $207,000. 86.76% of the stock is owned by institutional investors and hedge funds.
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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