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MENTOR, OH— Avery Dennison Corporation (NYSE:AVY) announced today that Gregory S. Lovins will resume his role as Senior Vice President and Chief Financial Officer effective April 1, 2025, following a medical leave that began on November 14, 2024. Danny G. Allouche, who served as Interim CFO during Lovins’ absence, will return to his position as Senior Vice President and Chief Strategy and Corporate Development Officer. The company, which maintains a perfect Piotroski Score of 9 according to InvestingPro data, has demonstrated strong financial health with an EBITDA of $1.42 billion in the last twelve months.
The company’s Talent and Compensation Committee confirmed Lovins’ annual base salary at $838,500 during its executive compensation review in February 2025. His target Annual Incentive Plan remains at 75% of his base salary, with a long-term incentive opportunity at 250% of his base salary. Additionally, Lovins will receive an annual executive benefit allowance of $65,000 and will be eligible for the company’s savings, deferred compensation, and severance plans as detailed in the proxy statement filed with the Securities and Exchange Commission on March 7, 2025. The company has maintained dividend payments for 55 consecutive years, with a current dividend yield of 2%.
This information is based on the latest 8-K filing by Avery Dennison with the Securities and Exchange Commission. The company, headquartered in Mentor, Ohio, specializes in converted paper and paperboard products. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with 10+ additional exclusive insights available to subscribers through comprehensive Pro Research Reports.
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, the company’s Intelligent Labels segment showed a 9% organic growth for the year, contributing significantly to its financial performance. Avery Dennison also returned $525 million to shareholders through dividends and buybacks during 2024.
Additionally, BMO Capital Markets adjusted its outlook on Avery Dennison, reducing the price target to $226 from $252 while maintaining an Outperform rating. This revision was influenced by currency exchange headwinds and a cautious view of the company’s financial projections. BMO highlighted Avery Dennison’s contract win with Vestcom and potential revenue growth from its RFID pilots expected to yield results in 2025 and 2026. Despite short-term challenges, BMO remains optimistic about the company’s long-term prospects.
These developments indicate that while Avery Dennison faces some immediate financial hurdles, its strategic initiatives and partnerships are expected to drive future growth.
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