Avery Dennison (NYSE:AVY) Sets New 52-Week Low – What’s Next?

Avery Dennison Co. (NYSE:AVY)’s share price reached a new 52-week low on Friday . The stock traded as low as $171.51 and last traded at $171.83, with a volume of 3930 shares changing hands. The stock had previously closed at $176.34.

Wall Street Analyst Weigh In

AVY has been the topic of a number of research reports. BMO Capital Markets set a $226.00 price target on Avery Dennison in a research note on Monday, February 3rd. Truist Financial reaffirmed a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group dropped 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. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

Avery Dennison Stock Performance

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 $181.82 and its 200 day moving average is $195.09. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.07%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the transaction, the chairman now directly owns 316,300 shares of the company’s stock, valued at $58,891,897. This trade represents a 2.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Avery Dennison

Several large investors have recently bought and sold shares of AVY. Versant Capital Management Inc raised its stake in shares of Avery Dennison by 2,090.7% during the 1st quarter. Versant Capital Management Inc now owns 1,884 shares of the industrial products company’s stock worth $335,000 after buying an additional 1,798 shares during the last quarter. Kera Capital Partners Inc. acquired a new position in Avery Dennison during the first quarter worth about $214,000. Wealth Enhancement Advisory Services LLC raised its position in Avery Dennison by 9.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,968 shares of the industrial products company’s stock worth $2,240,000 after acquiring an additional 1,053 shares during the last quarter. Mattson Financial Services LLC lifted its holdings in shares of Avery Dennison by 14.1% in the fourth quarter. Mattson Financial Services LLC now owns 7,284 shares of the industrial products company’s stock valued at $1,363,000 after purchasing an additional 898 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $434,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

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.