Avery Dennison (NYSE:AVY) Hits New 1-Year Low - Should You Sell?

Shares of Avery Dennison Co. (NYSE:AVY - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $178.72 and last traded at $181.13, with a volume of 815518 shares traded. The stock had previously closed at $179.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVY. Raymond James restated an "outperform" rating and set a $208.00 target price (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Barclays reduced their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $210.00 to $205.00 in a report on Friday, January 31st. UBS Group reduced their target price on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, BMO Capital Markets reduced their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $227.15.

Avery Dennison Price Performance

The stock has a market cap of $14.60 billion, a P/E ratio of 20.84, a PEG ratio of 2.04 and a beta of 0.89. The company has a 50 day simple moving average of $188.58 and a 200 day simple moving average of $203.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last released its 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%. Sell-side analysts forecast 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 will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Insiders Place Their Bets

In other Avery Dennison 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 transaction of $757,874.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. grew its holdings in Avery Dennison by 6.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,284 shares of the industrial products company's stock valued at $283,000 after buying an additional 77 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Avery Dennison by 3.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,813 shares of the industrial products company's stock valued at $8,348,000 after buying an additional 1,314 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in Avery Dennison in the 3rd quarter valued at $227,000. Accurate Wealth Management LLC grew its holdings in Avery Dennison by 1.1% in the 3rd quarter. Accurate Wealth Management LLC now owns 11,571 shares of the industrial products company's stock valued at $2,544,000 after buying an additional 126 shares in the last quarter. Finally, Meridiem Investment Management Ltd. grew its holdings in Avery Dennison by 0.7% in 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 buying an additional 5,756 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

About Avery Dennison

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.