Avery Dennison (AVY) Hits New 12-Month High at $120.53
Shares of Avery Dennison Corporation (NYSE:AVY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $120.53 and last traded at $118.88, with a volume of 483000 shares changing hands. The stock had previously closed at $117.38.
A number of analysts have issued reports on AVY shares. Robert W. Baird reissued a “buy” rating and issued a $115.00 target price on shares of Avery Dennison in a research report on Friday, October 27th. Zacks Investment Research raised Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Tuesday, November 7th. Loop Capital started coverage on Avery Dennison in a research report on Thursday, September 28th. They issued a “hold” rating and a $99.00 target price on the stock. Barclays boosted their target price on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $116.00.
The company has a market capitalization of $10,620.00, a PE ratio of 26.93, a PEG ratio of 3.07 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.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 5th. Avery Dennison’s dividend payout ratio is currently 40.18%.
In other news, insider Dean A. Scarborough sold 20,000 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the sale, the insider now owns 94,042 shares of the company’s stock, valued at $9,874,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mitchell R. Butier sold 77,551 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $106.31, for a total value of $8,244,446.81. Following the sale, the insider now directly owns 130,673 shares in the company, valued at approximately $13,891,846.63. The disclosure for this sale can be found here. Insiders have sold 154,604 shares of company stock worth $16,475,271 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of AVY. West Oak Capital LLC increased its position in shares of Avery Dennison by 114.3% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 800 shares during the period. Conning Inc. purchased a new stake in shares of Avery Dennison during the third quarter worth $200,000. Davidson & Garrard Inc. purchased a new stake in shares of Avery Dennison during the third quarter worth $202,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Avery Dennison during the second quarter worth $207,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Avery Dennison during the third quarter worth $213,000. 84.92% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally stolen and republished in violation of international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2018/01/18/avery-dennison-avy-hits-new-12-month-high-at-120-53.html.
About Avery Dennison
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).
Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.