Avery Dennison Sees Unusually Large Options Volume (AVY)
Avery Dennison Corporation (NYSE:AVY) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 368 put options on the company. This represents an increase of 475% compared to the typical volume of 64 put options.
AVY has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday, November 7th. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Friday, September 22nd. Barclays upped their price objective on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, Robert W. Baird reissued a “buy” rating and issued a $115.00 price target on shares of Avery Dennison in a research report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $110.83.
Avery Dennison (AVY) opened at $116.78 on Friday. Avery Dennison has a 52-week low of $70.90 and a 52-week high of $117.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82. The stock has a market cap of $10,280.00, a PE ratio of 26.07, a P/E/G ratio of 3.03 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.18%.
In other news, Director Peter K. Barker sold 2,000 shares of the company’s 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 completion of the transaction, the director now owns 26,703 shares of the company’s stock, valued at $3,064,436.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori J. Bondar sold 10,855 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the transaction, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The disclosure for this sale can be found here. Insiders sold 154,604 shares of company stock valued at $16,475,271 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $129,000. Captrust Financial Advisors acquired 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 valued at approximately $141,000. Conning Inc. bought a new stake in shares of Avery Dennison during the third quarter valued at approximately $200,000. Finally, Davidson & Garrard Inc. bought a new stake in shares of Avery Dennison during the third quarter valued at approximately $202,000. 84.82% of the stock is owned by institutional investors.
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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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