Avery Dennison (NYSE:AVY) Reaches New 52-Week Low – Here’s What Happened

Avery Dennison Co. (NYSE:AVY) shares hit a new 52-week low during trading on Friday . The company traded as low as $178.82 and last traded at $179.27, with a volume of 124381 shares changing hands. The stock had previously closed at $181.68.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVY shares. Barclays decreased their price target on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. BMO Capital Markets dropped their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Bank of America dropped their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, UBS Group dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.15.

Avery Dennison Price Performance

The stock has a market cap of $14.39 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89. The firm has a 50-day moving average price of $191.39 and a 200-day moving average price of $205.02. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, analysts forecast that Avery Dennison Co. will post 10.03 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid 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 1.97%. Avery Dennison’s dividend payout ratio is 40.37%.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Avery Dennison

Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison during the third quarter worth approximately $36,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the third quarter valued at approximately $39,000. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $37,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

About Avery Dennison

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.