Avery Dennison (NYSE:AVY) Sets New 52-Week Low – Time to Sell?

Avery Dennison Co. (NYSE:AVY) reached a new 52-week low on Monday . The stock traded as low as $192.90 and last traded at $192.90, with a volume of 350535 shares trading hands. The stock had previously closed at $195.14.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVY shares. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. BMO Capital Markets lowered 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. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Stock Down 2.4 %

The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.52 and a beta of 0.87. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average of $205.63 and a two-hundred day moving average of $213.78.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm earned $2.10 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Avery Dennison

A number of hedge funds and other institutional investors have recently modified their holdings of AVY. Geode Capital Management LLC increased its position in shares of Avery Dennison by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock worth $459,621,000 after acquiring an additional 157,754 shares during the last quarter. National Bank of Canada FI increased its position in shares of Avery Dennison by 795.2% during the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock worth $34,190,000 after acquiring an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Avery Dennison by 179.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after buying an additional 138,808 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after buying an additional 90,250 shares during the last quarter. Finally, World Investment Advisors LLC increased its holdings in Avery Dennison by 2,629.0% in the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after buying an additional 88,491 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other 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.