Avery Dennison Co. (NYSE:AVY – Get Free Report) 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.
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.
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