Overview
Mitchell R. Butier, a director of Avery Dennison Corp (NYSE:AVY), completed sales of 29,690 shares of the company's common stock on March 11 and March 12, 2026, according to a Form 4 filed with the Securities and Exchange Commission. The cumulative proceeds from those transactions amounted to $5.7 million, with execution prices ranging from $169.7064 to $174.5326 per share.
Trade breakdown
- On March 11, Butier sold: 4,123 shares at a weighted average price of $173.1749; 13,404 shares at a weighted average price of $173.983; and 2,473 shares at a weighted average price of $174.5326.
- On March 12, Butier sold: 1,160 shares at a weighted average price of $169.7064; 4,979 shares at a weighted average price of $170.6895; 2,977 shares at a weighted average price of $171.8031; 3,027 shares at a weighted average price of $172.6638; and 857 shares at a weighted average price of $173.498.
Context on execution and holdings
The filings indicate these dispositions were carried out automatically under a Rule 10b5-1 trading plan that Butier adopted on November 24, 2025. The plan provides for the potential sale of up to 113,000 shares. After the transactions reported on March 11 and 12, Butier directly holds 198,147 shares of Avery Dennison common stock and indirectly holds 4,312.4948 shares through a savings plan.
Market positioning and dividend note
At the time of reporting, the stock was trading at $170.77, which the filing notes is near its 52-week low of $156.23. InvestingPro analysis cited in the report suggests the company remains undervalued at current levels. The data also shows Avery Dennison has increased its dividend for 15 consecutive years and carries a current yield of 2.2%.
Recent financial results and analyst activity
Avery Dennison's fourth-quarter 2025 disclosure included adjusted earnings per share of $2.45, a result that exceeded analyst expectations of $2.40. However, the company's revenue for the quarter was $2.15 billion, short of the anticipated $2.29 billion. In the wake of those results, BMO Capital raised its price target for Avery Dennison to $224 from $215 and maintained an Outperform rating. BMO's commentary highlighted expectations for significant improvement in earnings per share growth in 2026 and 2027 following a challenging 2025.
Implications
The filing documents the mechanics of an automated trading plan and presents updated ownership figures for a company that reported mixed quarterly results. Investors tracking insider activity, dividend continuity, and upcoming earnings trends will likely consider both the prearranged nature of the sales and the quarter's revenue shortfall when evaluating near-term equity performance.
Note: The article reports information contained in the referenced SEC filing and company disclosures without introducing additional commentary or inference beyond those sources.