Avery Dennison Sees Unusually High Options Volume (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 8,480 put options on the stock. This represents an increase of approximately 3,278% compared to the typical volume of 251 put options.

Analyst Upgrades and Downgrades

AVY has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. BMO Capital Markets lowered their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Citigroup lowered their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Truist Financial reduced their price target on shares of Avery Dennison from $258.00 to $245.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.05.

Avery Dennison Stock Up 0.6 %

AVY traded up $1.21 during mid-day trading on Wednesday, reaching $190.52. 628,739 shares of the stock were exchanged, compared to its average volume of 598,715. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock has a market capitalization of $15.31 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company has a 50 day moving average price of $195.92 and a two-hundred day moving average price of $208.30. Avery Dennison has a 1 year low of $181.99 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 EPS. As a group, research analysts anticipate that Avery Dennison will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Wednesday, December 4th. Avery Dennison's dividend payout ratio (DPR) is currently 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Institutional Trading of Avery Dennison

A number of large investors have recently added to or reduced their stakes in AVY. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison in the second quarter worth $42,000. Federated Hermes Inc. increased its position in Avery Dennison by 56.7% in the second quarter. Federated Hermes Inc. now owns 1,470 shares of the industrial products company's stock worth $321,000 after buying an additional 532 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Avery Dennison by 8.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,259 shares of the industrial products company's stock worth $2,243,000 after buying an additional 815 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Avery Dennison by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 590,320 shares of the industrial products company's stock worth $129,074,000 after acquiring an additional 6,773 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Avery Dennison in the second quarter worth $690,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

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.