Avery Dennison Co. (NYSE:AVY) Plans Quarterly Dividend of $0.88

Avery Dennison Co. (NYSE:AVY) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, June 5th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81.

Avery Dennison has increased its dividend by an average of 10.5% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Avery Dennison has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Avery Dennison to earn $10.28 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 %

NYSE:AVY opened at $219.02 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. The stock has a market cap of $17.64 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90. The stock’s 50-day moving average is $215.71 and its two-hundred day moving average is $200.36. Avery Dennison has a fifty-two week low of $158.93 and a fifty-two week high of $225.26.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Avery Dennison’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. As a group, equities research analysts forecast that Avery Dennison will post 9.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Truist Financial increased their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday. 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 note on Thursday, January 11th. Raymond James reissued an “outperform” rating and issued a $240.00 price target (up from $225.00) on shares of Avery Dennison in a report on Thursday. Bank of America cut Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a report on Tuesday, January 2nd. Finally, StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock worth $4,217,705 over the last 90 days. 1.10% of the stock is owned by insiders.

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.