Avery Dennison Co. (NYSE:AVY) to Issue Quarterly Dividend of $0.88

Avery Dennison Co. (NYSE:AVY - Get Free Report) declared a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.88 per share by the industrial products company on Wednesday, December 18th. This represents a $3.52 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th.

Avery Dennison has increased its dividend payment by an average of 10.5% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Avery Dennison has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Avery Dennison to earn $10.50 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 33.5%.

Avery Dennison Price Performance

NYSE:AVY traded up $2.20 during trading hours on Friday, reaching $207.16. 797,830 shares of the company were exchanged, compared to its average volume of 465,828. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The stock's 50-day moving average is $216.73 and its 200-day moving average is $218.44. The firm has a market cap of $16.69 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 earnings per share. On average, sell-side analysts anticipate that Avery Dennison will post 9.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $230.00 to $210.00 in a report on Thursday. Truist Financial upped their target price on Avery Dennison from $253.00 to $258.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a "buy" rating and a $274.60 price target on the stock. StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Barclays began coverage on Avery Dennison in a research report on Monday, October 7th. They set an "overweight" rating and a $250.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.42.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now directly owns 304,114 shares of the company's stock, valued at approximately $62,574,496.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock valued at $12,545,087 over the last quarter. 1.10% of the stock is owned by company insiders.

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.