Avery Dennison Co. (NYSE:AVY – Get Free Report) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Wednesday, June 5th will be paid a dividend of 0.88 per share by the industrial products company on Thursday, June 20th. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date is Wednesday, June 5th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81.
Avery Dennison has raised its dividend by an average of 10.5% annually over the last three years and has increased its dividend every year for the last 13 years. Avery Dennison has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avery Dennison to earn $10.29 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 31.5%.
Avery Dennison Trading Up 0.9 %
Shares of NYSE:AVY traded up $1.87 during midday trading on Friday, hitting $219.03. 489,757 shares of the stock were exchanged, compared to its average volume of 444,670. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 3.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87. The business’s 50-day moving average price is $215.51 and its 200 day moving average price is $200.13. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26.
Analyst Ratings Changes
AVY has been the subject of several recent analyst reports. Robert W. Baird raised their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday. Raymond James reaffirmed 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. UBS Group raised their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Citigroup raised their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.
View Our Latest Analysis on Avery Dennison
Insider Buying and Selling
In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the sale, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by insiders.
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.
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