Avery Dennison Corporation (AVY) Director Sells $229,520.00 in Stock
Avery Dennison Corporation (NYSE:AVY) Director Peter K. Barker sold 2,000 shares of Avery Dennison stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total transaction of $229,520.00. Following the sale, the director now owns 26,703 shares in the company, valued at $3,064,436.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Avery Dennison Corporation (NYSE AVY) traded down $0.09 during midday trading on Wednesday, hitting $114.37. 519,958 shares of the company’s stock were exchanged, compared to its average volume of 660,415. Avery Dennison Corporation has a one year low of $69.53 and a one year high of $115.56. The company has a market capitalization of $10,122.42, a P/E ratio of 24.62, a PEG ratio of 3.33 and a beta of 1.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.13.
Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. research analysts expect that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
Several brokerages have recently weighed in on AVY. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Loop Capital began coverage on shares of Avery Dennison in a report on Thursday, September 28th. They set a “hold” rating and a $99.00 price target for the company. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a report on Monday, October 30th. Robert W. Baird reissued a “buy” rating and set a $115.00 price target on shares of Avery Dennison in a report on Friday, October 27th. Finally, J P Morgan Chase & Co downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $110.83.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC bought a new stake in shares of Avery Dennison during the second quarter worth approximately $129,000. Captrust Financial Advisors bought a new stake in shares of Avery Dennison during the second quarter worth approximately $130,000. Pacad Investment Ltd. bought a new stake in shares of Avery Dennison during the second quarter worth approximately $141,000. Conning Inc. acquired a new position in Avery Dennison during the third quarter valued at approximately $200,000. Finally, Davidson & Garrard Inc. acquired a new position in Avery Dennison during the third quarter valued at approximately $202,000. 85.42% of the stock is owned by institutional investors and hedge funds.
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Avery Dennison Company Profile
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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