Avery Dennison Corp to Issue Quarterly Dividend of $0.45 (AVY)
Avery Dennison Corp (NYSE:AVY) declared a quarterly dividend on Wednesday, January 31st, RTT News reports. Shareholders of record on Wednesday, March 7th will be given a dividend of 0.45 per share by the industrial products company on Wednesday, March 21st. This represents a $1.80 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, March 6th.
Avery Dennison has raised its dividend by an average of 9.5% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Avery Dennison has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avery Dennison to earn $6.31 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 28.5%.
Avery Dennison (AVY) opened at $115.16 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. Avery Dennison has a 12 month low of $78.47 and a 12 month high of $123.67. The stock has a market capitalization of $10,125.77, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 2.80 and a beta of 1.20.
Several research firms have issued reports on AVY. UBS Group began coverage on Avery Dennison in a research note on Thursday, January 18th. They set a “buy” rating and a $135.00 price objective for the company. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Bank of America increased their price objective on Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upgraded Avery Dennison from an “underweight” rating to a “neutral” rating in a research note on Monday, February 12th. Finally, Barclays increased their price objective on Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $122.75.
In other news, VP Anne Hill sold 21,134 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $118.07, for a total value of $2,495,291.38. Following the completion of the sale, the vice president now directly owns 41,863 shares in the company, valued at $4,942,764.41. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter K. Barker sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total value of $229,520.00. Following the completion of the sale, the director now owns 26,703 shares of the company’s stock, valued at $3,064,436.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,535 shares of company stock valued at $4,316,315. 1.40% of the stock is currently owned by corporate insiders.
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Avery Dennison 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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