Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier Sells 10,000 Shares

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $65,144,259.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Avery Dennison Price Performance

AVY traded up $1.28 during trading on Thursday, reaching $216.19. 271,372 shares of the company traded hands, compared to its average volume of 451,486. The company has a market cap of $17.41 billion, a P/E ratio of 31.36, a PEG ratio of 1.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48. The firm has a fifty day simple moving average of $217.03 and a 200 day simple moving average of $217.49.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. Avery Dennison’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.92 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 9.39 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.63%. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Hedge Funds Weigh In On Avery Dennison

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Avery Dennison in the 2nd quarter worth approximately $28,000. VisionPoint Advisory Group LLC bought a new stake in Avery Dennison in the fourth quarter worth $42,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison during the second quarter valued at $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison during the second quarter valued at $51,000. Finally, Palisade Asset Management LLC purchased a new position in shares of Avery Dennison in the 1st quarter worth $64,000. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AVY shares. BMO Capital Markets cut their price objective on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Citigroup boosted their price target on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Stifel Nicolaus began coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective on the stock. Raymond James reiterated an “outperform” rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Finally, Argus lifted their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.