Avery Dennison (NYSE:AVY) Reaches New 1-Year Low - Here's Why

Avery Dennison Co. (NYSE:AVY - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $178.82 and last traded at $179.27, with a volume of 124381 shares. The stock had previously closed at $181.68.

Analyst Ratings Changes

AVY has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Avery Dennison from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $210.00 to $205.00 in a report on Friday, January 31st. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Truist Financial reissued a "buy" rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group cut their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Finally, BMO Capital Markets dropped their target price on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $227.15.

Avery Dennison Stock Performance

The company has a market cap of $14.46 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.04 and a beta of 0.89. The stock's fifty day simple moving average is $190.37 and its two-hundred day simple moving average is $204.33. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities research analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction 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 sale, the senior vice president now owns 7,126 shares of the company's stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Avery Dennison

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVY. Empirical Finance LLC increased its position in shares of Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company's stock worth $623,000 after purchasing an additional 55 shares during the last quarter. Procyon Advisors LLC increased its position in shares of Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock worth $319,000 after purchasing an additional 56 shares during the last quarter. Greenleaf Trust increased its position in shares of Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock worth $253,000 after purchasing an additional 57 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after purchasing an additional 58 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its position in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock worth $2,220,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors 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.