Avery Dennison Corp (NYSE:AVY) Director Dean A. Scarborough sold 30,000 shares of Avery Dennison stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $110.48, for a total transaction of $3,314,400.00. Following the sale, the director now owns 136,953 shares of the company’s stock, valued at $15,130,567.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
AVY stock opened at $103.06 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. Avery Dennison Corp has a one year low of $78.61 and a one year high of $123.67. The company has a market cap of $9,684.37, a price-to-earnings ratio of 32.93, a P/E/G ratio of 2.68 and a beta of 1.20.
Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping the 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 company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. analysts anticipate that Avery Dennison Corp will post 5.88 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of AVY. New York State Common Retirement Fund increased its stake in shares of Avery Dennison by 0.6% in the third quarter. New York State Common Retirement Fund now owns 224,697 shares of the industrial products company’s stock worth $22,097,000 after buying an additional 1,300 shares during the period. Toronto Dominion Bank increased its stake in shares of Avery Dennison by 11.7% in the third quarter. Toronto Dominion Bank now owns 33,534 shares of the industrial products company’s stock worth $3,298,000 after buying an additional 3,524 shares during the period. Comerica Bank increased its stake in shares of Avery Dennison by 3.4% in the third quarter. Comerica Bank now owns 46,668 shares of the industrial products company’s stock worth $4,916,000 after buying an additional 1,540 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Avery Dennison by 16.7% in the third quarter. Ameriprise Financial Inc. now owns 293,245 shares of the industrial products company’s stock worth $28,839,000 after buying an additional 42,004 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of Avery Dennison by 20.0% in the third quarter. Macquarie Group Ltd. now owns 5,400 shares of the industrial products company’s stock worth $532,000 after buying an additional 900 shares during the period. 85.95% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on AVY. UBS began coverage on shares of Avery Dennison in a report on Thursday, January 18th. They issued a “buy” rating and a $135.00 price objective for the company. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Bank of America boosted their price objective on shares of Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from an “underweight” rating to a “neutral” rating in a report on Monday, February 12th. Finally, Barclays boosted their price objective on shares of Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $122.00.
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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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