Avery Dennison Corporation (AVY) Insider Mitchell R. Butier Sells 77,551 Shares
Avery Dennison Corporation (NYSE:AVY) insider Mitchell R. Butier sold 77,551 shares of Avery Dennison Corporation stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $106.31, for a total value of $8,244,446.81. Following the completion of the transaction, the insider now directly owns 130,673 shares in the company, valued at $13,891,846.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.49%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $1.01 EPS. Avery Dennison Corporation’s revenue was up 11.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s payout ratio is 40.18%.
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Large investors have recently made changes to their positions in the business. Acrospire Investment Management LLC bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth $129,000. Captrust Financial Advisors bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth $130,000. Pacad Investment Ltd. bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth $141,000. Conning Inc. bought a new stake in shares of Avery Dennison Corporation during the 3rd quarter worth $200,000. Finally, Advisor Partners LLC bought a new stake in shares of Avery Dennison Corporation during the 2nd quarter worth $207,000. 86.76% of the stock is owned by hedge funds and other institutional investors.
AVY has been the topic of several recent research reports. Robert W. Baird reissued a “buy” rating and set a $100.00 price target on shares of Avery Dennison Corporation in a research report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a research report on Friday, September 22nd. Loop Capital boosted their price target on Avery Dennison Corporation from $99.00 to $106.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered Avery Dennison Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Citigroup Inc. upped their target price on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Avery Dennison Corporation presently has a consensus rating of “Buy” and an average price target of $105.29.
About Avery Dennison Corporation
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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