Avery Dennison (NYSE:AVY) Trading Down 2.5%

Avery Dennison Co. (NYSE:AVY)’s stock price was down 2.5% on Wednesday . The stock traded as low as $214.05 and last traded at $214.67. Approximately 43,846 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 442,839 shares. The stock had previously closed at $220.20.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AVY shares. BMO Capital Markets reiterated an “outperform” rating and issued a $252.00 price target (down previously from $254.00) on shares of Avery Dennison in a report on Thursday. Truist Financial raised their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group lowered 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. Citigroup raised their price objective on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Finally, Robert W. Baird raised their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.78.

Avery Dennison Trading Up 3.1 %

The stock has a 50 day simple moving average of $215.74 and a 200-day simple moving average of $218.84. The firm has a market capitalization of $17.38 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.81 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm earned $1.92 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.63%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $65,144,259.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,108 shares of company stock valued at $12,545,087. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Several hedge funds have recently modified their holdings of AVY. Level Four Advisory Services LLC purchased a new stake in shares of Avery Dennison in the fourth quarter valued at $262,000. Norges Bank purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $185,292,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $483,000. UBS Group AG boosted its position in shares of Avery Dennison by 54.1% during the fourth quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock valued at $36,675,000 after buying an additional 63,716 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of Avery Dennison by 50.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,900 shares of the industrial products company’s stock valued at $384,000 after buying an additional 633 shares during the period. 94.17% of the stock is owned by hedge funds and other 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.