Other analysts also recently issued reports about the company. BidaskClub downgraded Avery Dennison Corporation from a buy rating to a hold rating in a research note on Friday, June 9th. Zacks Investment Research downgraded Avery Dennison Corporation from a buy rating to a hold rating in a research note on Thursday, June 22nd. Citigroup Inc. boosted their price target on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a buy rating in a research note on Wednesday, July 26th. Bank of America Corporation upgraded Avery Dennison Corporation from a neutral rating to a buy rating and boosted their price target for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Aegis restated a hold rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Avery Dennison Corporation presently has an average rating of Buy and an average target price of $92.86.
Shares of Avery Dennison Corporation (AVY) traded down 0.06% on Friday, hitting $98.76. The company had a trading volume of 421,511 shares. Avery Dennison Corporation has a 12-month low of $68.55 and a 12-month high of $99.26. The company has a market capitalization of $8.73 billion, a P/E ratio of 23.20 and a beta of 1.18. The firm has a 50-day moving average price of $94.02 and a 200 day moving average price of $87.03.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. Equities analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.82%. Avery Dennison Corporation’s payout ratio is 42.25%.
In other news, Director David E. I. Pyott sold 298 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $94.00, for a total transaction of $28,012.00. Following the completion of the sale, the director now directly owns 16,601 shares in the company, valued at approximately $1,560,494. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick Siewert sold 10,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the sale, the director now owns 10,519 shares of the company’s stock, valued at $984,893.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,298 shares of company stock valued at $1,152,312. Corporate insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in shares of Avery Dennison Corporation by 24.4% during the 2nd quarter. Toronto Dominion Bank now owns 30,010 shares of the industrial products company’s stock valued at $2,651,000 after acquiring an additional 5,880 shares during the period. WINTON GROUP Ltd raised its holdings in shares of Avery Dennison Corporation by 21.4% during the 2nd quarter. WINTON GROUP Ltd now owns 30,708 shares of the industrial products company’s stock worth $2,714,000 after buying an additional 5,403 shares in the last quarter. National Asset Management Inc. raised its holdings in shares of Avery Dennison Corporation by 0.3% during the 2nd quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock worth $369,000 after buying an additional 12 shares in the last quarter. Piedmont Investment Advisors LLC raised its holdings in shares of Avery Dennison Corporation by 37.5% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 25,098 shares of the industrial products company’s stock worth $2,218,000 after buying an additional 6,850 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Avery Dennison Corporation by 3.6% during the 2nd quarter. Sterling Capital Management LLC now owns 65,421 shares of the industrial products company’s stock worth $5,781,000 after buying an additional 2,257 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.
Avery Dennison Corporation 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).
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