Avery Dennison Corp. - AVY STOCK NEWS

Avery Dennison (NYSE:AVY) has announced its acquisition of JDC Solutions, Inc. for $24 million. JDC, based in Mount Juliet, Tennessee, manufactures pressure-sensitive specialty tapes and generates approximately $30 million in annual revenue. With around 75 employees, JDC serves various high-value industrial sectors, including automotive and construction. The acquisition will integrate JDC’s operations into Avery Dennison’s Performance Tapes North America business and is expected to close in Q1, pending customary conditions and approvals.

The Board of Directors of Avery Dennison Corporation (NYSE:AVY) declared a quarterly cash dividend of $0.62 per share. This dividend is payable on March 17, 2021, to shareholders of record on March 3, 2021. Founded in Glendale, California, Avery Dennison specializes in materials science, producing a diverse range of labeling and functional materials across multiple industries. The company reported sales of $7.0 billion in 2020 and employs over 30,000 people worldwide.

Avery Dennison Corporation (NYSE:AVY) reported strong preliminary results for Q4 and FY 2020, showcasing resilience amid pandemic challenges. Net sales rose to $1.99 billion, up 12.3% year-over-year, with a reported operating margin of 13.7%. Adjusted net income was $2.27 per share, reflecting a 31% increase. The company maintained a robust balance sheet with net debt to adjusted EBITDA at 1.7. Looking ahead, AVY expects 2021 adjusted EPS between $7.65 and $8.05, supported by strong demand in key segments like RFID. Overall, the company demonstrated solid growth while prioritizing employee safety.

Avery Dennison Corporation (NYSE: AVY) has announced investor events, including the Fourth Quarter and Full Year 2020 earnings conference call scheduled for February 3rd at 1:00 p.m. ET, with earnings release at 6:45 a.m. that morning. Additionally, the 2021 Virtual Investor Day will take place on March 10th from 11:00 a.m. to 1:00 p.m. ET. Both events will be webcast live and available for replay on Avery Dennison's Investor Relations website.

Avery Dennison (NYSE: AVY) has acquired ACPO Ltd. for $87.6 million, enhancing its position in the label materials market. This acquisition brings ACPO's pressure-sensitive overlaminate products and approximately 170 employees into Avery Dennison's fold. Key assets acquired include ACPO’s coating and distribution operations in Ohio and three additional sites across the U.S. The acquisition is expected to accelerate innovation and expand Avery Dennison’s product offerings.

Spruce Point Capital Management published an 89-page report asserting that Avery Dennison (NYSE: AVY) could see a 55% downside risk. The report claims that despite Avery's portrayal as a stable entity, its financial health has been deteriorating due to market share loss to competitors and insufficient product innovation. It notes potential accounting manipulations, including significant ~$1 billion in restructuring charges over two decades. Spruce Point calls for an independent investigation into these financial practices, highlighting risks related to a potentially misleading presentation of economic strength.

Avery Dennison Corporation (NYSE: AVY) announced the transfer of its 1.250% Senior Notes due 2025 from the New York Stock Exchange to the Nasdaq Bond Exchange, effective November 9, 2020. This strategic move aims to capitalize on lower listing fees associated with Nasdaq. The Notes will commence trading on Nasdaq on November 10, 2020, under the trading symbol AVY 25 and CUSIP 053611 AH2. Avery Dennison is a global company specializing in labeling and functional materials, with reported sales of $7.1 billion in 2019.

Avery Dennison Corporation (NYSE:AVY) reported preliminary results for Q3 2020, showcasing resilient performance despite the COVID-19 pandemic. Net sales totaled $1.73 billion, down 1.8% year-over-year, yet adjusted net income rose 15% to $1.91 per share. The company achieved improved operating margins across all segments and realized $30 million in temporary savings. There are ongoing cost reduction initiatives targeting $60-70 million in savings for 2020. A 7% increase in dividends was announced, alongside share repurchases, indicating confidence in financial stability.

Avery Dennison Corporation (NYSE: AVY) announces a quarterly dividend of $0.62 per share, marking a 7% increase from the previous rate. The dividend is payable on December 16, 2020, to shareholders on record as of December 2, 2020. Avery Dennison, a global manufacturer of labeling and functional materials, aims to enhance shareholder value through consistent dividend growth. The company reported sales of $7.1 billion in 2019 and employs approximately 30,000 staff in over 50 countries.