Insider Selling: Avery Dennison Co. (NYSE:AVY) Chairman Sells 12,969 Shares of Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Avery Dennison Price Performance

AVY opened at $183.94 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a market capitalization of $14.53 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock’s 50 day moving average price is $186.11 and its 200-day moving average price is $200.72. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities research analysts predict that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.91%. Avery Dennison’s payout ratio is 40.37%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Copley Financial Group Inc. bought a new stake in shares of Avery Dennison during the fourth quarter valued at approximately $434,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Avery Dennison during the fourth quarter valued at $21,241,000. Jefferies Financial Group Inc. bought a new stake in shares of Avery Dennison during the 4th quarter valued at $543,000. Capital A Wealth Management LLC purchased a new stake in shares of Avery Dennison in the 4th quarter worth about $116,000. Finally, Forum Financial Management LP increased its stake in shares of Avery Dennison by 23.9% in the 4th quarter. Forum Financial Management LP now owns 1,311 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of a number of recent research reports. Bank of America lowered their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. UBS Group lowered their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

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.