Avery Dennison Corporation (NYSE:AVY) insider Mitchell R. Butier sold 77,551 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $106.31, for a total value of $8,244,446.81. Following the transaction, the insider now directly owns 130,673 shares in the company, valued at $13,891,846.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Avery Dennison Corporation (NYSE:AVY) traded up $1.18 during midday trading on Friday, reaching $108.21. The company’s stock had a trading volume of 288,411 shares, compared to its average volume of 655,249. The stock has a market cap of $9,546.66, a PE ratio of 23.22 and a beta of 1.22.
Avery Dennison Corporation (NYSE:AVY) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. 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 company posted $1.01 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. sell-side analysts predict that Avery Dennison Corporation will post 4.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a yield of 1.66%. Avery Dennison Corporation’s dividend payout ratio (DPR) is currently 40.18%.
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Several research analysts recently weighed in on the company. Barclays PLC upped their price target on Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a research report on Monday. Zacks Investment Research lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird reissued a “buy” rating and set a $115.00 price target on shares of Avery Dennison Corporation in a research report on Friday, October 27th. Finally, Loop Capital upped their price target on Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Five research 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. The company has an average rating of “Buy” and an average price target of $105.29.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVY. Acrospire Investment Management LLC bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth about $129,000. Captrust Financial Advisors bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth about $130,000. Pacad Investment Ltd. bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth about $141,000. Conning Inc. bought a new stake in shares of Avery Dennison Corporation during the 3rd quarter worth about $200,000. Finally, Advisor Partners LLC bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth about $207,000. Institutional investors own 86.76% of the company’s stock.
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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