Avery Dennison Co. (NYSE:AVY) to Issue Quarterly Dividend of $0.88

Avery Dennison Co. (NYSE:AVY) announced a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders of record on Wednesday, December 4th will be paid 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 dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th.

Avery Dennison has raised its dividend payment by an average of 10.5% annually over the last three years and has raised its dividend every year for the last 14 years. Avery Dennison has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

AVY stock traded up $2.20 during midday trading on Friday, hitting $207.16. 797,830 shares of the stock were exchanged, compared to its average volume of 465,828. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The stock has a market cap of $16.69 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The stock’s 50-day moving average price is $216.73 and its 200-day moving average price is $218.45.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the firm earned $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts predict that Avery Dennison will post 9.41 earnings per share for the current year.

Wall Street Analyst Weigh In

AVY has been the subject of several research reports. Barclays assumed coverage on Avery Dennison in a research report on Monday, October 7th. They set an “overweight” rating and a $250.00 price objective for the company. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a research note on Thursday. Citigroup reduced their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, BMO Capital Markets decreased their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.42.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $65,144,259.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,108 shares of company stock worth $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.