Mitchell R. Butier Sells 12,969 Shares of Avery Dennison Co. (NYSE:AVY) Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Avery Dennison Trading Up 0.8 %

NYSE AVY opened at $183.94 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The firm’s fifty day moving average price is $186.11 and its 200 day moving average price is $200.82. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12 month low of $178.72 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, sell-side analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Institutional Trading of Avery Dennison

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Avery Dennison in the third quarter valued at approximately $36,000. Regents Gate Capital LLP purchased a new stake in Avery Dennison in the fourth quarter valued at approximately $37,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison during the third quarter valued at approximately $39,000. Finally, Spire Wealth Management lifted its position in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a report on Monday, February 3rd. Barclays decreased their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

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.