Mitchell R. Butier Sells 8,068 Shares of Avery Dennison Co. (NYSE:AVY) Stock

Avery Dennison Co. (NYSE:AVY) Chairman Mitchell R. Butier sold 8,068 shares of Avery Dennison stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Avery Dennison Stock Performance

AVY stock opened at $183.94 on Friday. The business’s 50-day moving average price is $186.11 and its two-hundred day moving average price is $200.90. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a market cap of $14.53 billion, a PE ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.89. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current 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 issued 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 dividend payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AVY shares. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Citigroup lowered their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, UBS Group decreased their price objective 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $222.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the third quarter valued at about $39,000. Regents Gate Capital LLP bought a new stake in shares of Avery Dennison in the fourth quarter valued at about $37,000. Finally, Brooklyn Investment Group bought a new stake in shares of Avery Dennison in the third quarter valued at about $66,000. 94.17% of the stock is currently owned by institutional investors.

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.