Avery Dennison (AVY) Plans Dividend Increase – $0.52 Per Share

Avery Dennison (NYSE:AVY) declared a quarterly dividend on Thursday, April 26th, RTT News reports. Investors of record on Wednesday, June 6th will be paid a dividend of 0.52 per share by the industrial products company on Wednesday, June 20th. This represents a $2.08 dividend on an annualized basis and a yield of 1.96%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.45.

Avery Dennison has increased its dividend payment by an average of 9.5% per year over the last three years and has raised its dividend every year for the last 7 years. Avery Dennison has a payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avery Dennison to earn $6.38 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 28.2%.

AVY stock traded down $0.46 during midday trading on Thursday, reaching $106.21. The stock had a trading volume of 654,224 shares, compared to its average volume of 725,737. The firm has a market capitalization of $9,267.59, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.56 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.13 and a quick ratio of 0.83. Avery Dennison has a 52-week low of $81.84 and a 52-week high of $123.67.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 25th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.08. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.74 billion. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. equities research analysts expect that Avery Dennison will post 5.88 earnings per share for the current year.

A number of equities analysts recently issued reports on AVY shares. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. UBS initiated coverage on Avery Dennison in a research note on Thursday, January 18th. They set a “buy” rating and a $135.00 price objective for the company. JPMorgan Chase lowered 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. Bank of America lifted their price objective on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price objective on Avery Dennison from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $123.67.

In other news, Director Dean A. Scarborough sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $110.48, for a total transaction of $3,314,400.00. Following the sale, the director now directly owns 136,953 shares in the company, valued at approximately $15,130,567.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anne Hill sold 21,134 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $118.07, for a total value of $2,495,291.38. Following the sale, the vice president now owns 41,863 shares in the company, valued at $4,942,764.41. The disclosure for this sale can be found here. Insiders have sold a total of 166,409 shares of company stock valued at $18,288,509 in the last quarter. Company insiders own 1.30% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

Dividend History for Avery Dennison (NYSE:AVY)

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