Avery Dennison (NYSE:AVY) Hits New 12-Month Low – Should You Sell?

Avery Dennison Co. (NYSE:AVY) 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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group decreased their target price 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 set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Finally, Bank of America cut their price target on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Avery Dennison Price Performance

The firm has a fifty day moving average price of $184.80 and a two-hundred day moving average price of $198.52. The stock has a market capitalization of $13.68 billion, a P/E ratio of 19.86, a PEG ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.03%. Avery Dennison’s dividend payout ratio is currently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Avery Dennison

A number of institutional investors have recently bought and sold shares of AVY. OneDigital Investment Advisors LLC bought a new position in Avery Dennison in the 3rd quarter worth $207,000. Swiss National Bank increased its stake in Avery Dennison by 0.3% in the 3rd quarter. Swiss National Bank now owns 239,100 shares of the industrial products company’s stock worth $52,784,000 after buying an additional 700 shares in the last quarter. Caprock Group LLC increased its stake in Avery Dennison by 12.8% in the 3rd quarter. Caprock Group LLC now owns 1,326 shares of the industrial products company’s stock worth $293,000 after buying an additional 150 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Avery Dennison in the 3rd quarter worth $981,000. Finally, Avior Wealth Management LLC increased its stake in Avery Dennison by 2.8% in the 3rd quarter. Avior Wealth Management LLC now owns 3,294 shares of the industrial products company’s stock worth $727,000 after buying an additional 90 shares in 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.