Avery Dennison Co. (NYSE:AVY – Get Free Report) announced a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Investors of record on Wednesday, June 5th will be paid a dividend of 0.88 per share by the industrial products company on Thursday, June 20th. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81.
Avery Dennison has raised its dividend by an average of 10.5% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Avery Dennison has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Avery Dennison to earn $10.28 per share next year, which means the company should continue to be able to cover its $3.24 annual dividend with an expected future payout ratio of 31.5%.
Avery Dennison Trading Up 0.9 %
Shares of AVY opened at $219.02 on Friday. The company has a market capitalization of $17.64 billion, a P/E ratio of 31.97, a P/E/G ratio of 3.35 and a beta of 0.90. Avery Dennison has a 1-year low of $158.93 and a 1-year high of $225.26. The firm’s 50 day simple moving average is $215.71 and its 200 day simple moving average is $200.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69.
Insider Transactions at Avery Dennison
In other news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 in the last quarter. Company insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on AVY shares. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. UBS Group lifted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Raymond James restated an “outperform” rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a report on Thursday. Robert W. Baird boosted their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America cut shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.
Check Out Our Latest Stock Report on AVY
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.
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