Avery Dennison Corp (NYSE:AVY) VP Susan C. Miller sold 3,131 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $120.33, for a total transaction of $376,753.23. Following the transaction, the vice president now directly owns 29,257 shares of the company’s stock, valued at $3,520,494.81. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Avery Dennison Corp (AVY) traded down $1.04 during midday trading on Thursday, reaching $117.11. 221,317 shares of the company were exchanged, compared to its average volume of 656,106. Avery Dennison Corp has a 1 year low of $78.47 and a 1 year high of $123.67. The firm has a market capitalization of $10,455.50, a price-to-earnings ratio of 37.42, a P/E/G ratio of 2.89 and a beta of 1.20. 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 (NYSE:AVY) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business earned $0.99 earnings per share. Avery Dennison’s revenue was up 11.9% compared to the same quarter last year. analysts anticipate that Avery Dennison Corp will post 5.88 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC boosted its position in Avery Dennison by 77.6% during the third quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock worth $4,384,000 after acquiring an additional 19,479 shares during the last quarter. ETRADE Capital Management LLC boosted its position in Avery Dennison by 12.8% during the third quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock worth $2,061,000 after acquiring an additional 2,377 shares during the last quarter. KAMES CAPITAL plc acquired a new stake in Avery Dennison during the fourth quarter worth approximately $71,586,000. Aurora Investment Counsel acquired a new stake in Avery Dennison during the fourth quarter worth approximately $565,000. Finally, IFM Investors Pty Ltd acquired a new stake in Avery Dennison during the third quarter worth approximately $317,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
A number of research analysts have recently weighed in on AVY shares. Zacks Investment Research raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, November 7th. Bank of America raised their price objective on shares of 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. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price objective for the company. in a research note on Thursday, February 1st. Barclays raised their price objective on shares of Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, UBS Group started coverage on shares of Avery Dennison in a research note on Thursday, January 18th. They set a “buy” rating and a $135.00 price objective for the company. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $122.75.
About Avery Dennison
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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