Avery Dennison Co. Plans Quarterly Dividend of $0.88 (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Wednesday, December 4th will be given a dividend of 0.88 per share by the industrial products company on Wednesday, December 18th. This represents a $3.52 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th.

Avery Dennison has raised its dividend by an average of 10.5% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Avery Dennison has a dividend payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Avery Dennison to earn $10.50 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 33.5%.

Avery Dennison Trading Up 1.1 %

Avery Dennison stock opened at $207.16 on Friday. The firm has a market cap of $16.69 billion, a PE ratio of 30.24, a P/E/G ratio of 1.78 and a beta of 0.88. Avery Dennison has a 12 month low of $165.21 and a 12 month high of $233.48. The stock’s 50 day simple moving average is $216.73 and its two-hundred day simple moving average is $218.44. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business earned $2.10 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AVY has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $210.00 in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Truist Financial lifted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $245.42.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $64,745,870.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by company insiders.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.