Avery Dennison Corp (NYSE:AVY) Director Anthony Anderson sold 950 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total value of $80,199.00. Following the completion of the transaction, the director now directly owns 7,492 shares of the company’s stock, valued at approximately $632,474.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Avery Dennison Corp (NYSE:AVY) traded up 0.32% on Friday, reaching $82.76. The company’s stock had a trading volume of 721,058 shares. The firm has a market capitalization of $7.33 billion, a PE ratio of 21.73 and a beta of 1.12. Avery Dennison Corp has a 52 week low of $68.55 and a 52 week high of $84.57. The stock’s 50 day moving average is $82.03 and its 200-day moving average is $76.78.
Avery Dennison Corp (NYSE:AVY) last released its earnings results on Wednesday, April 26th. The industrial products company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.07. Avery Dennison Corp had a return on equity of 37.46% and a net margin of 5.27%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that Avery Dennison Corp will post $4.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, June 5th. This is an increase from Avery Dennison Corp’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 2.18%. Avery Dennison Corp’s dividend payout ratio (DPR) is 46.46%.
A number of large investors have recently added to or reduced their stakes in AVY. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Avery Dennison Corp by 49.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,623 shares of the industrial products company’s stock worth $1,526,000 after buying an additional 6,450 shares during the period. United Services Automobile Association increased its stake in Avery Dennison Corp by 1.4% in the third quarter. United Services Automobile Association now owns 100,644 shares of the industrial products company’s stock worth $7,829,000 after buying an additional 1,365 shares during the period. Principal Financial Group Inc. increased its stake in Avery Dennison Corp by 7.3% in the third quarter. Principal Financial Group Inc. now owns 380,178 shares of the industrial products company’s stock worth $29,574,000 after buying an additional 25,883 shares during the period. State Street Corp increased its stake in Avery Dennison Corp by 5.3% in the fourth quarter. State Street Corp now owns 4,528,426 shares of the industrial products company’s stock worth $317,975,000 after buying an additional 228,265 shares during the period. Finally, Aviva PLC increased its stake in Avery Dennison Corp by 7.2% in the fourth quarter. Aviva PLC now owns 58,630 shares of the industrial products company’s stock worth $4,118,000 after buying an additional 3,929 shares during the period. 86.43% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded Avery Dennison Corp from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corp in a report on Wednesday, April 26th. Finally, Barclays PLC reissued an “overweight” rating and issued a $96.00 price target (up previously from $95.00) on shares of Avery Dennison Corp in a report on Monday, May 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $82.60.
About Avery Dennison Corp
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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