Insider Selling: Avery Dennison Corp (AVY) Director Sells 100,000 Shares of Stock

Avery Dennison Corp (NYSE:AVY) Director Dean A. Scarborough sold 100,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $109.17, for a total transaction of $10,917,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AVY stock traded down $0.86 during trading on Wednesday, reaching $107.98. The company had a trading volume of 700,126 shares, compared to its average volume of 687,207. Avery Dennison Corp has a 52 week low of $82.89 and a 52 week high of $117.62. The company has a market cap of $9.49 billion, a P/E ratio of 17.82, a PEG ratio of 2.33 and a beta of 1.36. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 0.83.

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Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02. Avery Dennison had a net margin of 6.53% and a return on equity of 52.22%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Avery Dennison Corp will post 6.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, March 5th. Avery Dennison’s dividend payout ratio is 34.32%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eads & Heald Wealth Management increased its stake in shares of Avery Dennison by 21.7% during the fourth quarter. Eads & Heald Wealth Management now owns 14,200 shares of the industrial products company’s stock valued at $1,276,000 after purchasing an additional 2,535 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Avery Dennison by 17.4% during the fourth quarter. DNB Asset Management AS now owns 19,792 shares of the industrial products company’s stock valued at $1,778,000 after purchasing an additional 2,930 shares in the last quarter. Tradition Capital Management LLC increased its stake in shares of Avery Dennison by 53.2% during the fourth quarter. Tradition Capital Management LLC now owns 75,880 shares of the industrial products company’s stock valued at $6,816,000 after purchasing an additional 26,346 shares in the last quarter. Dupont Capital Management Corp increased its stake in shares of Avery Dennison by 4.5% during the fourth quarter. Dupont Capital Management Corp now owns 43,328 shares of the industrial products company’s stock valued at $3,892,000 after purchasing an additional 1,882 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Avery Dennison by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 18,243 shares of the industrial products company’s stock valued at $1,637,000 after purchasing an additional 408 shares in the last quarter. 84.44% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on AVY. Zacks Investment Research raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. ValuEngine raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. UBS Group set a $125.00 price target on shares of Avery Dennison and gave the stock a “buy” rating in a research note on Friday, January 18th. Citigroup decreased their price target on shares of Avery Dennison from $122.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, January 7th. Finally, BMO Capital Markets increased their price target on shares of Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $119.50.

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About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

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