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Mitchell R. Butier, the Executive Chairman of Avery Dennison Corp (NYSE:AVY), recently sold a significant portion of his shares in the company. According to a filing with the Securities and Exchange Commission, Butier sold 8,068 shares of common stock on March 3, 2025. The shares were sold at a weighted average price of $186.19, resulting in a total transaction value of approximately $1.5 million. The sale comes as the stock trades near its 52-week low, with InvestingPro data showing strong fundamentals, including a perfect Piotroski Score of 9 and consistent dividend payments for 55 consecutive years.
Following this transaction, Butier retains direct ownership of 316,300 shares in the company. Additionally, he holds 4,222.6896 shares indirectly through a savings plan. The sale was executed in multiple trades, with prices ranging from $186.00 to $186.55. According to InvestingPro analysis, the company currently appears slightly undervalued, with management actively buying back shares and maintaining a strong financial health score of "GOOD." Discover more insights and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, Avery Dennison reported its fourth-quarter 2024 earnings, narrowly missing analyst expectations. The company posted an earnings per share (EPS) of $2.38, slightly below the forecasted $2.39, and revenue reached $2.18 billion, falling short of the anticipated $2.2 billion. Despite these misses, Avery Dennison’s Intelligent Labels segment grew 9% organically in 2024, and the company returned $525 million to shareholders through dividends and buybacks. For 2025, Avery Dennison projects an adjusted EPS between $9.80 and $10.20, representing a 7-12% growth excluding currency impacts. The company anticipates 3-4% organic sales growth and expects Intelligent Labels to grow by 10-15%.
In other developments, BMO Capital Markets adjusted its outlook on Avery Dennison, reducing the price target to $226 from $252 while maintaining an Outperform rating. This revision reflects a more conservative earnings per share forecast for 2025 and 2026 due to foreign exchange headwinds. Avery Dennison’s recent contract win with Vestcom and its pipeline of Radio-Frequency Identification (RFID) projects are expected to contribute to revenue growth. Despite short-term challenges, BMO Capital remains optimistic about Avery Dennison’s long-term prospects.
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