Avery Dennison Co. (NYSE:AVY – Get Free Report) 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 – Get Free Report) 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
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.
View Our Latest Stock Report on Avery Dennison
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.
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