Avery Dennison Co. (NYSE:AVY) Insider Francisco Melo Sells 3,750 Shares

Avery Dennison Co. (NYSE:AVY) insider Francisco Melo sold 3,750 shares of Avery Dennison stock in a transaction on Monday, May 20th. The shares were sold at an average price of $227.00, for a total value of $851,250.00. Following the sale, the insider now directly owns 15,230 shares of the company’s stock, valued at approximately $3,457,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Avery Dennison Stock Up 1.4 %

AVY opened at $229.14 on Wednesday. The company has a market cap of $18.46 billion, a P/E ratio of 33.45, a P/E/G ratio of 3.47 and a beta of 0.91. The business’s 50-day moving average price is $218.79 and its 200-day moving average price is $206.25. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $229.21.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.15 by $0.14. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.15 billion. On average, equities analysts expect that Avery Dennison Co. will post 9.31 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.54%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Wednesday, June 5th. Avery Dennison’s payout ratio is presently 47.30%.

Institutional Trading of Avery Dennison

Several large investors have recently bought and sold shares of AVY. QRG Capital Management Inc. boosted its position in shares of Avery Dennison by 30.7% in the 4th quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 864 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $1,213,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Avery Dennison in the 4th quarter worth approximately $2,715,000. Mutual of America Capital Management LLC boosted its position in shares of Avery Dennison by 133.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock worth $5,320,000 after purchasing an additional 15,040 shares in the last quarter. Finally, Norden Group LLC boosted its position in shares of Avery Dennison by 3.9% in the 4th quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 151 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AVY shares. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Truist Financial raised their price target on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup raised their price target on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised their price target on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Argus raised their price target on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

About Avery Dennison

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.