Avery Dennison Co. (NYSE:AVY) Chairman Sells $1,502,180.92 in Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Avery Dennison Stock Performance

AVY stock traded down $1.61 during trading on Thursday, hitting $181.21. 249,115 shares of the company traded hands, compared to its average volume of 721,536. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a 1 year low of $178.72 and a 1 year high of $233.48. The stock’s 50-day simple moving average is $186.34 and its 200 day simple moving average is $201.23. The company has a market cap of $14.31 billion, a PE ratio of 20.81, a P/E/G ratio of 2.07 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVY. Citigroup dropped their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. UBS Group reduced their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Institutional Trading of Avery Dennison

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison during the third quarter valued at approximately $36,000. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison in the fourth quarter valued at approximately $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison in the third quarter worth approximately $39,000. Finally, Spire Wealth Management increased its position in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.