Avery Dennison Co. (NYSE:AVY) to Issue Quarterly Dividend of $0.88

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, October 25th, Zacks reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, December 18th. This represents a $3.52 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th.

Avery Dennison has increased its dividend by an average of 10.5% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Avery Dennison has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Avery Dennison to earn $10.50 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 33.5%.

Avery Dennison Stock Performance

AVY stock traded up $2.20 during midday trading on Friday, reaching $207.16. 797,830 shares of the company’s stock traded hands, compared to its average volume of 465,828. Avery Dennison has a 52-week low of $165.21 and a 52-week high of $233.48. The stock has a market cap of $16.69 billion, a P/E ratio of 30.26, a PEG ratio of 1.78 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The stock’s 50-day moving average is $216.73 and its 200 day moving average is $218.45.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, analysts anticipate that Avery Dennison will post 9.41 EPS for the current year.

Analysts Set New Price Targets

AVY has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective for the company. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. BMO Capital Markets reduced their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.42.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $65,144,259.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock valued at $12,545,087. Company insiders own 1.10% of the company’s stock.

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.