Avery Dennison Co. (AVY) To Go Ex-Dividend on June 5th

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors 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 yield of 1.61%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81.

Avery Dennison has raised its dividend by an average of 10.5% per year 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% indicating that its dividend is sufficiently covered by earnings. 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 %

Shares of AVY opened at $219.02 on Friday. The company has a market capitalization of $17.64 billion, a P/E ratio of 31.97, a P/E/G ratio of 3.35 and a beta of 0.90. Avery Dennison has a 1-year low of $158.93 and a 1-year high of $225.26. The firm’s 50 day simple moving average is $215.71 and its 200 day simple moving average is $200.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69.

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

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction that occurred on 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 approximately $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AVY shares. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. UBS Group lifted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Raymond James restated an “outperform” rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a report on Thursday. Robert W. Baird boosted their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

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.