Insider Selling: Avery Dennison (NYSE:AVY) Director Sells 13,000 Shares of Stock

Avery Dennison Director Mitchell R. Butier sold 13,000 shares of company stock for over $2.2 million on March 12, following a prior sale of 20,000 shares, reducing his stake by 6.16%. The company’s stock is trading at $170.72 with a market capitalization of $13.13 billion, and while analysts largely maintain positive ratings, the insider selling, along with recent negative sentiment from Zacks and institutional rebalancing, could pressure the stock. Avery Dennison recently reported strong Q4 earnings, beating estimates, and declared a quarterly dividend of $0.94.