Avery Dennison Co. (NYSE:AVY) Chairman Sells $2,119,100.00 in Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,444,797.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Avery Dennison Trading Up 0.6 %

NYSE AVY opened at $216.19 on Friday. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The company has a 50-day moving average of $216.79 and a 200-day moving average of $217.48. The company has a market cap of $17.41 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.77 and a beta of 0.88.

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

Avery Dennison Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AVY. Louisiana State Employees Retirement System acquired a new position in Avery Dennison during the 4th quarter worth approximately $991,000. Vontobel Holding Ltd. lifted its position in shares of Avery Dennison by 5.8% during the fourth quarter. Vontobel Holding Ltd. now owns 4,704 shares of the industrial products company’s stock worth $951,000 after purchasing an additional 258 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Avery Dennison in the fourth quarter valued at $230,000. Daiwa Securities Group Inc. grew its holdings in Avery Dennison by 6.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,357 shares of the industrial products company’s stock valued at $1,487,000 after purchasing an additional 455 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Avery Dennison by 6.6% during the 4th quarter. Greenleaf Trust now owns 1,287 shares of the industrial products company’s stock worth $260,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target on the stock. Argus boosted their target price on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Citigroup upped their price target on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, Raymond James restated an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. One 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.96.

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.