Avery Dennison Corp. (NYSE:AVY) VP Susan C. Miller sold 2,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $77.36, for a total value of $154,720.00. Following the transaction, the vice president now owns 8,518 shares in the company, valued at approximately $658,952.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Avery Dennison Corp. (NYSE:AVY) opened at 75.75 on Wednesday. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 22.58 and a beta of 0.92. The firm’s 50-day moving average price is $77.34 and its 200-day moving average price is $75.14. Avery Dennison Corp. has a 1-year low of $57.06 and a 1-year high of $79.27.
Avery Dennison Corp. (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business earned $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Avery Dennison Corp. had a return on equity of 34.82% and a net margin of 5.18%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Equities research analysts forecast that Avery Dennison Corp. will post $3.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.17%. Avery Dennison Corp.’s payout ratio is presently 48.81%.
Several institutional investors have recently made changes to their positions in AVY. Opus Capital Group LLC increased its position in shares of Avery Dennison Corp. by 0.9% in the second quarter. Opus Capital Group LLC now owns 3,295 shares of the company’s stock worth $246,000 after buying an additional 28 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Avery Dennison Corp. by 0.8% in the second quarter. Baird Financial Group Inc. now owns 6,265 shares of the company’s stock worth $468,000 after buying an additional 50 shares during the last quarter. Gerstein Fisher increased its position in shares of Avery Dennison Corp. by 1.0% in the second quarter. Gerstein Fisher now owns 6,948 shares of the company’s stock worth $519,000 after buying an additional 68 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its position in shares of Avery Dennison Corp. by 0.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,775 shares of the company’s stock worth $1,570,000 after buying an additional 75 shares during the last quarter. Finally, Norinchukin Bank The increased its position in shares of Avery Dennison Corp. by 1.9% in the second quarter. Norinchukin Bank The now owns 4,677 shares of the company’s stock worth $350,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 89.50% of the company’s stock.
A number of equities analysts have commented on AVY shares. Zacks Investment Research upgraded Avery Dennison Corp. from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Wednesday, September 21st. Bank of America Corp. lowered Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price objective on the stock. in a research note on Friday, July 1st. Finally, JPMorgan Chase & Co. raised their price objective on Avery Dennison Corp. from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Avery Dennison Corp. presently has a consensus rating of “Hold” and an average price target of $78.00.
Avery Dennison Corp. Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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