Avery Dennison (NYSE:AVY) Director Sells $775,200.00 in Stock

Avery Dennison Corporation (NYSE:AVY) Director Andres Alberto Lopez sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $193.80, for a total value of $775,200.00. Following the completion of the transaction, the director owned 1,147 shares in the company, valued at $222,288.60. This represents a 77.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Avery Dennison Trading Down 1.5%

Avery Dennison stock traded down $2.89 during mid-day trading on Friday, hitting $186.81. The company’s stock had a trading volume of 604,340 shares, compared to its average volume of 744,467. The firm has a market capitalization of $14.11 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. Avery Dennison Corporation has a 1 year low of $152.42 and a 1 year high of $199.54. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. The stock’s fifty day moving average is $174.75 and its two-hundred day moving average is $172.30.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.10. Avery Dennison had a return on equity of 33.88% and a net margin of 7.56%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter last year, the firm earned $2.37 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Avery Dennison Corporation will post 10.17 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Avery Dennison’s dividend payout ratio is currently 43.29%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AVY shares. Bank of America restated a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Citigroup lifted their price target on shares of Avery Dennison from $186.00 to $191.00 and gave the company a “neutral” rating in a research report on Monday. Weiss Ratings raised shares of Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Truist Financial reduced their price target on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Finally, UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.10.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently modified their holdings of AVY. BlackRock Inc. purchased a new position in Avery Dennison during the 2nd quarter valued at about $1,052,464,000. Wellington Management Group LLP grew its position in Avery Dennison by 9.1% in the 2nd quarter. Wellington Management Group LLP now owns 5,788,479 shares of the industrial products company’s stock valued at $939,760,000 after acquiring an additional 482,054 shares in the last quarter. Ninety One UK Ltd purchased a new stake in Avery Dennison during the third quarter worth about $341,344,000. Robeco Institutional Asset Management B.V. increased its stake in Avery Dennison by 2,376.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock worth $168,106,000 after purchasing an additional 945,195 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Avery Dennison by 1.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 956,886 shares of the industrial products company’s stock worth $155,350,000 after purchasing an additional 17,769 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.