Avery Dennison Corp (AVY) Director Sells $3,314,400.00 in Stock

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.

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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.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, March 6th. Avery Dennison’s payout ratio is 57.51%.

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).

Insider Buying and Selling by Quarter for Avery Dennison (NYSE:AVY)

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