Avery Dennison (NYSE:AVY) Hits New 12-Month Low – Should You Sell?

Shares of Avery Dennison Co. (NYSE:AVY) reached a new 52-week low during trading on Wednesday . The stock traded as low as $178.12 and last traded at $179.14, with a volume of 18659 shares changing hands. The stock had previously closed at $180.15.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AVY shares. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America reduced their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Trading Down 0.6 %

The firm has a market capitalization of $14.14 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock’s 50-day simple moving average is $185.97 and its two-hundred day simple moving average is $200.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. Avery Dennison’s dividend payout ratio is 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the transaction, the chairman now owns 316,300 shares of the company’s stock, valued at $58,891,897. This represents a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avery Dennison

Several large investors have recently made changes to their positions in AVY. Larson Financial Group LLC increased its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison during the third quarter valued at $39,000. Regents Gate Capital LLP bought a new position in Avery Dennison during the fourth quarter valued at $37,000. Finally, Brooklyn Investment Group purchased a new position in shares of Avery Dennison in the 3rd quarter worth $66,000. 94.17% of the stock is owned by institutional investors.

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.