Insider Selling: Donald A. Nolan Sells 15,000 Shares of Avery Dennison Corp Stock (AVY)
Avery Dennison Corp (NYSE:AVY) Insider Donald A. Nolan sold 15,000 shares of Avery Dennison Corp stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $48.07, for a total transaction of $721,050.00. Following the transaction, the insider now directly owns 19,229 shares in the company, valued at approximately $924,338. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Avery Dennison Corp (NYSE:AVY) traded down 0.25% during mid-day trading on Wednesday, hitting $47.90. The stock had a trading volume of 642,881 shares. Avery Dennison Corp has a one year low of $42.01 and a one year high of $52.24. The stock has a 50-day moving average of $49.06 and a 200-day moving average of $49.59. The company has a market cap of $4.490 billion and a price-to-earnings ratio of 23.27.
Avery Dennison Corp (NYSE:AVY) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts expect that Avery Dennison Corp will post $3.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, August 29th.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Avery Dennison Corp in a research note on Wednesday, July 30th. They now have a $53.00 price target on the stock, down previously from $54.00. Separately, analysts at Topeka Capital Markets downgraded shares of Avery Dennison Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 29th. They now have a $54.00 price target on the stock, down previously from $59.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Avery Dennison Corp in a research note on Monday, July 28th. They now have a $52.00 price target on the stock. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.17.
Avery Dennison Corporation (NYSE:AVY), is engaged in the production of pressure-sensitive materials, and a variety of tickets, tags, labels other converted products, and office and consumer products through embossing, printing, stamping and die-cutting.
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