Avery Dennison (NYSE:AVY) Reaches New 12-Month Low – Time to Sell?

Avery Dennison Co. (NYSE:AVY)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $173.02 and last traded at $173.69, with a volume of 140355 shares traded. The stock had previously closed at $177.05.

Analyst Ratings Changes

Several brokerages recently issued reports on AVY. Bank of America cut their target price 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. Truist Financial reiterated a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group cut their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.51.

Avery Dennison Trading Down 2.1 %

The stock has a market capitalization of $13.68 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.07 and a beta of 0.85. The firm’s 50 day moving average price is $184.80 and its 200 day moving average price is $198.52. 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 quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 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%. As a group, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s payout ratio is currently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors have recently bought and sold shares of AVY. OneDigital Investment Advisors LLC bought a new position in Avery Dennison in the third quarter worth about $207,000. Swiss National Bank increased its stake in shares of Avery Dennison by 0.3% during the third quarter. Swiss National Bank now owns 239,100 shares of the industrial products company’s stock valued at $52,784,000 after purchasing an additional 700 shares in the last quarter. Caprock Group LLC increased its stake in shares of Avery Dennison by 12.8% during the third quarter. Caprock Group LLC now owns 1,326 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 150 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Avery Dennison during the third quarter valued at approximately $981,000. Finally, Avior Wealth Management LLC increased its stake in shares of Avery Dennison by 2.8% during the third quarter. Avior Wealth Management LLC now owns 3,294 shares of the industrial products company’s stock valued at $727,000 after purchasing an additional 90 shares in the last quarter. 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.