Avery Dennison Co. (AVY) to Issue Quarterly Dividend of $0.88 on December 18th

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, December 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th.

Avery Dennison has increased its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Avery Dennison has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Avery Dennison to earn $10.50 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 33.5%.

Avery Dennison Stock Performance

AVY stock opened at $207.16 on Friday. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The business’s fifty day simple moving average is $216.73 and its two-hundred day simple moving average is $218.44.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 EPS. Analysts predict that Avery Dennison will post 9.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $64,745,870.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price on the stock. Barclays initiated coverage on shares of Avery Dennison in a report on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target for the company. Truist Financial increased their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $245.42.

About Avery Dennison

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.