A recent filing with the U.S. Securities and Exchange Commission revealed that Ryan D. Yost, President of the Materials Group at Avery Dennison Corp (NYSE:AVY), sold 584 shares of the company's stock on May 29, 2024. The transaction was executed at an average price of $221.315 per share, resulting in a total value of $129,247.
The sale decreased Yost's direct holdings in Avery Dennison to 2,259 shares, not including any indirect holdings he might have. Details about any such indirect holdings were not disclosed in the filing. It is worth noting that the shares sold by Yost were part of his direct holdings in the company.
Avery Dennison Corp, known for its production of pressure-sensitive materials and a variety of tickets, tags, labels, and other converted products, is headquartered in Mentor, Ohio. The company operates under the ticker symbol AVY on the New York Stock Exchange.
The SEC filing, which was signed by attorney-in-fact Vikas Arora on behalf of Ryan D. Yost, does not include any footnotes that might provide additional context for the transaction. As with all SEC filings of this nature, the reported information is required to be publicly disclosed and provides transparency into the trading activities of the company's executives.
Investors and market watchers often monitor such filings to gain insight into the behavior of company insiders, considering it a valuable piece of information for making investment decisions. However, it's important to note that insider transactions can be motivated by a variety of reasons and do not necessarily signal a company's future performance.
InvestingPro Insights
Avery Dennison Corp's recent insider transaction has piqued the interest of investors, and to provide further context, we turn to key metrics and InvestingPro Tips. The company, with a market capitalization of $18.01 billion, is trading at a P/E ratio of 32.52, indicating a premium valuation compared to the market average. In the last twelve months as of Q1 2024, the P/E ratio adjusted for performance was slightly lower at 27.65, reflecting the company's earnings relative to its share price.
One of the notable InvestingPro Tips for Avery Dennison is its commendable track record of raising its dividend for 13 consecutive years, signaling a stable and investor-friendly policy. Additionally, the company has maintained dividend payments for an impressive 54 consecutive years. This consistent dividend history might be particularly attractive to income-focused investors.
Despite a slight revenue decline of 3.48% in the last twelve months as of Q1 2024, the company's gross profit margin remains strong at 28.01%, indicating effective cost management and a solid business model. Moreover, Avery Dennison's stock has been experiencing low price volatility, which may appeal to risk-averse investors seeking more predictable performance.
For those interested in delving deeper into Avery Dennison's performance and prospects, InvestingPro offers additional tips and insights. There are currently more tips available on the platform, which can be accessed at https://www.investing.com/pro/AVY. To enhance your investing strategy and gain comprehensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.