Avery Dennison Co. (NYSE:AVY) Insider Sells $851,250.00 in Stock

Avery Dennison Co. (NYSE:AVY) insider Francisco Melo sold 3,750 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $227.00, for a total transaction of $851,250.00. Following the completion of the sale, the insider now directly owns 15,230 shares in the company, valued at $3,457,210. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Avery Dennison Trading Down 0.9 %

Shares of AVY stock opened at $227.10 on Friday. The firm has a market cap of $18.29 billion, a P/E ratio of 33.15, a PEG ratio of 2.11 and a beta of 0.91. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $229.98. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. The firm’s 50-day simple moving average is $219.30 and its 200-day simple moving average is $206.56.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.14. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.31 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is presently 47.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in Avery Dennison by 30.7% in the fourth quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock valued at $744,000 after buying an additional 864 shares during the period. Jump Financial LLC purchased a new position in Avery Dennison in the fourth quarter valued at approximately $1,213,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Avery Dennison in the fourth quarter valued at approximately $2,715,000. Mutual of America Capital Management LLC raised its holdings in Avery Dennison by 133.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock valued at $5,320,000 after buying an additional 15,040 shares during the period. Finally, Norden Group LLC raised its holdings in Avery Dennison by 3.9% in the fourth quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock valued at $814,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup raised their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird raised their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $228.50.

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.