Avery Dennison (NYSE:AVY) Reaches New 12-Month Low - Here's What Happened

Avery Dennison Co. (NYSE:AVY - Get Free Report)'s share price hit a new 52-week low on Friday . The company traded as low as $173.02 and last traded at $173.69, with a volume of 140355 shares changing hands. The stock had previously closed at $177.05.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVY. Barclays dropped their price objective on shares of Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. BMO Capital Markets set a $226.00 price target on Avery Dennison in a research note on Monday, February 3rd. UBS Group lowered their price objective on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. Bank of America cut their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Avery Dennison has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Price Performance

The company's 50 day simple moving average is $184.10 and its 200 day simple moving average is $197.31. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The stock has a market cap of $13.85 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.07 and a beta of 0.85.

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Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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%. As a group, equities analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.01%. Avery Dennison's dividend payout ratio is presently 40.37%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avery Dennison

Several institutional investors have recently added to or reduced their stakes in AVY. Greenleaf Trust raised its stake 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 valued at $253,000 after purchasing an additional 57 shares during the period. AdvisorNet Financial Inc lifted its stake in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 58 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in 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 valued at $2,220,000 after acquiring an additional 58 shares in the last quarter. Cynosure Group LLC grew its stake in shares of Avery Dennison by 3.6% during the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company's stock worth $378,000 after acquiring an additional 59 shares in the last quarter. Finally, RMR Wealth Builders raised its holdings in shares of Avery Dennison by 5.7% in the fourth quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock valued at $205,000 after purchasing an additional 59 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

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.