Avery Dennison Corp (AVY) Director David E. I. Pyott Sells 2,000 Shares
Avery Dennison Corp (NYSE:AVY) Director David E. I. Pyott sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the sale, the director now owns 16,601 shares in the company, valued at $1,560,494. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Avery Dennison Corp (NYSE:AVY) traded up 0.62% during mid-day trading on Wednesday, hitting $94.03. The company had a trading volume of 412,799 shares. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 22.09 and a beta of 1.18. The firm’s 50 day moving average is $93.07 and its 200 day moving average is $85.25. Avery Dennison Corp has a 52 week low of $68.55 and a 52 week high of $96.70.
Avery Dennison Corp (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Avery Dennison Corp had a net margin of 7.43% and a return on equity of 46.53%. Avery Dennison Corp’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $1.09 EPS. On average, equities research analysts predict that Avery Dennison Corp will post $4.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, September 1st. Avery Dennison Corp’s dividend payout ratio is presently 42.25%.
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A number of analysts recently issued reports on the company. Citigroup Inc. boosted their price objective on Avery Dennison Corp from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub upgraded Avery Dennison Corp from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered Avery Dennison Corp from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Bank of America Corporation upgraded Avery Dennison Corp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Aegis reiterated a “hold” rating on shares of Avery Dennison Corp in a research note on Thursday, June 1st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $91.67.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Beacon Advisors Inc. bought a new position in shares of Avery Dennison Corp during the first quarter worth $105,000. Van ECK Associates Corp raised its position in shares of Avery Dennison Corp by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after buying an additional 94 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Avery Dennison Corp during the second quarter worth $129,000. Captrust Financial Advisors bought a new position in shares of Avery Dennison Corp during the second quarter worth $130,000. Finally, Pacad Investment Ltd. bought a new position in shares of Avery Dennison Corp during the second quarter worth $141,000. 87.76% of the stock is currently owned by hedge funds and other institutional investors.
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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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