Avery Dennison (NYSE:AVY) Reaches New 1-Year Low – Here’s What Happened

Shares of Avery Dennison Co. (NYSE:AVY) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $178.72 and last traded at $181.13, with a volume of 815518 shares. The stock had previously closed at $179.99.

Analyst Ratings Changes

AVY has been the topic of several research reports. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. UBS Group lowered their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Raymond James restated an “outperform” rating and set a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $227.15.

Avery Dennison Stock Performance

The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock’s 50-day moving average is $189.87 and its 200-day moving average is $204.09.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.94%. Avery Dennison’s payout ratio is currently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Avery Dennison in the 4th quarter worth about $430,000. ExodusPoint Capital Management LP raised its holdings in Avery Dennison by 96.6% in the fourth quarter. ExodusPoint Capital Management LP now owns 16,923 shares of the industrial products company’s stock valued at $3,167,000 after buying an additional 8,316 shares during the period. World Investment Advisors lifted its position in Avery Dennison by 27.9% during the fourth quarter. World Investment Advisors now owns 5,057 shares of the industrial products company’s stock valued at $946,000 after buying an additional 1,104 shares in the last quarter. Huntington National Bank grew its stake in Avery Dennison by 9.2% during the fourth quarter. Huntington National Bank now owns 3,639 shares of the industrial products company’s stock worth $681,000 after buying an additional 308 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Avery Dennison by 16.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company’s stock worth $151,985,000 after acquiring an additional 112,650 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.