Avery Dennison Corp (NYSE:AVY) insider Georges Gravanis sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $116.88, for a total value of $292,200.00. Following the completion of the sale, the insider now owns 13,637 shares in the company, valued at $1,593,892.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
AVY stock traded up $1.20 during trading on Friday, hitting $117.19. The company had a trading volume of 413,391 shares, compared to its average volume of 623,982. The stock has a 50-day moving average price of $114.15. Avery Dennison Corp has a one year low of $82.89 and a one year high of $120.65. The firm has a market cap of $9.79 billion, a PE ratio of 19.34, a PEG ratio of 2.18 and a beta of 1.35. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.80 and a current ratio of 1.04.
Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Avery Dennison had a return on equity of 52.67% and a net margin of 3.44%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 EPS. Equities analysts expect that Avery Dennison Corp will post 6.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, September 3rd. Avery Dennison’s payout ratio is 38.28%.
Several brokerages recently commented on AVY. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a report on Friday, July 12th. Citigroup upped their target price on Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 11th. KeyCorp reiterated a “hold” rating on shares of Silgan in a report on Wednesday, April 24th. Zacks Investment Research cut Wix.Com from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of SAGE Therapeutics in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $120.13.
Several institutional investors have recently bought and sold shares of the business. Squar Milner Financial Services LLC boosted its holdings in shares of Avery Dennison by 5.8% during the 2nd quarter. Squar Milner Financial Services LLC now owns 1,739 shares of the industrial products company’s stock worth $201,000 after buying an additional 95 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in shares of Avery Dennison by 1.1% during the 2nd quarter. Hartford Investment Management Co. now owns 10,239 shares of the industrial products company’s stock worth $1,184,000 after buying an additional 108 shares in the last quarter. ETF Managers Group LLC boosted its holdings in shares of Avery Dennison by 8.9% during the 1st quarter. ETF Managers Group LLC now owns 1,360 shares of the industrial products company’s stock worth $154,000 after buying an additional 111 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of Avery Dennison by 1.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,659 shares of the industrial products company’s stock worth $865,000 after buying an additional 126 shares in the last quarter. Finally, AGF Investments Inc. boosted its holdings in shares of Avery Dennison by 6.3% during the 1st quarter. AGF Investments Inc. now owns 2,458 shares of the industrial products company’s stock worth $278,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.
About Avery Dennison
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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