Avery Dennison Co. (NYSE:AVY) Chairman Sells $620,400.00 in Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Friday, August 9th. The stock was sold at an average price of $206.80, for a total value of $620,400.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,890,775.20. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Avery Dennison Price Performance

NYSE AVY opened at $208.95 on Thursday. The business’s fifty day moving average is $218.34 and its 200 day moving average is $217.02. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company has a market capitalization of $16.83 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.77 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 earnings per share. Sell-side analysts predict that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. Avery Dennison’s payout ratio is 51.39%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Taylor Frigon Capital Management LLC lifted its position in shares of Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after acquiring an additional 48 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 50 shares in the last quarter. Albert D Mason Inc. boosted its stake in Avery Dennison by 0.7% in the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after purchasing an additional 51 shares during the period. Alliance Wealth Advisors LLC UT grew its holdings in Avery Dennison by 1.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after buying an additional 56 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Avery Dennison by 5.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVY. Argus boosted their target price on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Robert W. Baird increased their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Raymond James reaffirmed an “outperform” rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.96.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.