Avery Dennison (NYSE:AVY) Hits New 52-Week High at $225.26

Avery Dennison Co. (NYSE:AVY)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $225.26 and last traded at $224.76, with a volume of 115382 shares changing hands. The stock had previously closed at $222.14.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group raised their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Citigroup upped their price objective on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Robert W. Baird boosted their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Truist Financial lifted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Raymond James restated an “outperform” rating and issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Avery Dennison Stock Up 0.7 %

The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 32.43, a price-to-earnings-growth ratio of 3.41 and a beta of 0.91. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average is $216.54 and its 200 day moving average is $202.18.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 47.30%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Avery Dennison

Institutional investors and hedge funds have recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC raised its position in Avery Dennison by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after buying an additional 48 shares during the period. Albert D Mason Inc. lifted its position in shares of Avery Dennison by 0.7% in the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after purchasing an additional 51 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in shares of Avery Dennison by 1.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after purchasing an additional 56 shares during the period. First Trust Direct Indexing L.P. increased its stake in Avery Dennison by 5.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock valued at $242,000 after buying an additional 57 shares during the period. Finally, New York Life Investment Management LLC lifted its position in Avery Dennison by 0.5% in the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 58 shares in the last quarter. 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.