Insider Selling: Avery Dennison Co. (NYSE:AVY) Chairman Sells 10,000 Shares of Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $64,745,870.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Avery Dennison Stock Down 0.5 %

AVY stock opened at $212.22 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The company has a fifty day simple moving average of $217.30 and a 200 day simple moving average of $217.51. The firm has a market cap of $17.09 billion, a PE ratio of 30.98, a PEG ratio of 1.77 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the business earned $1.92 EPS. Avery Dennison’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Avery Dennison Co. will post 9.39 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, September 4th. Avery Dennison’s payout ratio is presently 51.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AVY shares. Citigroup lifted their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Robert W. Baird lifted their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Raymond James reiterated an “outperform” rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. Finally, Argus lifted their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Avery Dennison by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock worth $290,050,000 after acquiring an additional 27,771 shares during the last quarter. Boston Partners lifted its position in Avery Dennison by 3.6% during the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after acquiring an additional 35,538 shares during the last quarter. Norges Bank acquired a new position in Avery Dennison during the 4th quarter worth $185,292,000. Dimensional Fund Advisors LP lifted its position in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after acquiring an additional 32,467 shares during the last quarter. Finally, Veritas Investment Partners UK Ltd. lifted its position in Avery Dennison by 15.5% during the 4th quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock worth $153,804,000 after acquiring an additional 102,000 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.