Avery Dennison (NYSE:AVY) Reaches New 12-Month Low - Time to Sell?

Avery Dennison Co. (NYSE:AVY - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock traded as low as $185.29 and last traded at $186.05, with a volume of 33673 shares changing hands. The stock had previously closed at $188.51.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVY. Bank of America raised Avery Dennison from an "underperform" rating to a "buy" rating and lifted their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Citigroup decreased their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, October 2nd. Barclays lowered their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. BMO Capital Markets decreased their price target on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison Trading Down 0.7 %

The stock's fifty day simple moving average is $200.40 and its 200 day simple moving average is $211.32. The firm has a market capitalization of $15.04 billion, a PE ratio of 22.48, a PEG ratio of 1.52 and a beta of 0.87. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.10 earnings per share. On average, sell-side analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.88%. Avery Dennison's payout ratio is currently 42.26%.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company's stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors and hedge funds have recently modified their holdings of AVY. Geode Capital Management LLC lifted its position in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock worth $459,621,000 after buying an additional 157,754 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock valued at $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. boosted its position in shares of Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company's stock valued at $175,261,000 after acquiring an additional 5,756 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Avery Dennison by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company's stock worth $172,254,000 after purchasing an additional 32,467 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company's stock valued at $154,431,000 after purchasing an additional 3,118 shares in the last quarter. 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.