David E. I. Pyott Sells 2,000 Shares of Avery Dennison Corporation (AVY) Stock
Avery Dennison Corporation (NYSE:AVY) Director David E. I. Pyott sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the transaction, the director now owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Avery Dennison Corporation (NYSE:AVY) opened at 94.26 on Friday. The company’s 50-day moving average price is $93.28 and its 200-day moving average price is $85.66. The stock has a market cap of $8.33 billion, a PE ratio of 22.14 and a beta of 1.18. Avery Dennison Corporation has a 12-month low of $68.55 and a 12-month high of $96.70.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.91%. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DUPONT CAPITAL MANAGEMENT Corp raised its position in Avery Dennison Corporation by 192.0% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 19,854 shares of the industrial products company’s stock valued at $1,600,000 after buying an additional 13,055 shares in the last quarter. Wesbanco Bank Inc. raised its position in Avery Dennison Corporation by 7.3% in the first quarter. Wesbanco Bank Inc. now owns 3,526 shares of the industrial products company’s stock valued at $284,000 after buying an additional 240 shares in the last quarter. IFP Advisors Inc raised its position in Avery Dennison Corporation by 27.3% in the first quarter. IFP Advisors Inc now owns 3,512 shares of the industrial products company’s stock valued at $283,000 after buying an additional 754 shares in the last quarter. Russell Investments Group Ltd. raised its position in Avery Dennison Corporation by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock valued at $4,112,000 after buying an additional 2,631 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Avery Dennison Corporation by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,587 shares of the industrial products company’s stock valued at $1,498,000 after buying an additional 272 shares in the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
A number of equities analysts recently issued reports on AVY shares. Zacks Investment Research cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Aegis restated a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $96.00 in a report on Tuesday, June 20th. Citigroup Inc. boosted their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, BidaskClub upgraded Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Avery Dennison Corporation has an average rating of “Buy” and an average price target of $92.86.
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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