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Avery Dennison appoints new president for Materials Group

EditorIsmeta Mujdragic
Published 02/29/2024, 06:57 AM
© Reuters.

MENTOR, Ohio - Avery Dennison Corporation (NYSE:AVY), a global materials science company, has announced the appointment of Ryan Yost as the new president of its Materials Group. Yost, who has been with the company for over two decades, steps into this role after successfully leading the company's Identification Solutions business and driving growth in the Vestcom business.

Under Yost's leadership, the Identification Solutions business saw significant expansion, particularly within the logistics, food, and retail market segments. In his new position, Yost will focus on driving innovation and technology advancements, as well as promoting sustainability initiatives. His role will also involve steering the company towards growth in high-value categories and maintaining profitability in core businesses.

Yost's tenure at Avery Dennison has been marked by a series of leadership roles across different divisions. His experience spans operations and supply chain management within the Materials Group, as well as leading operations and commercial teams internationally within the Solutions Group.

Yost's academic background includes a Bachelor of Science in Business Administration with a specialization in operations and supply chain management from Bowling Green State University, and a Master of Business Administration from Cleveland State University.

Avery Dennison is a provider of branding and information solutions, offering a variety of products and services designed to enhance labor and supply chain efficiency, promote sustainability, and connect brands with consumers. The company reported sales of $8.4 billion in 2023 and employs approximately 35,000 people across more than 50 countries.

The information regarding Ryan Yost's appointment is based on a press release statement from Avery Dennison Corporation.

InvestingPro Insights

As Avery Dennison (NYSE:AVY) welcomes Ryan Yost as the new president of its Materials Group, the company's financial health and market performance remain a focus for investors. According to InvestingPro data, Avery Dennison boasts a robust market capitalization of $17.24 billion USD, underscoring its significant presence in the materials science sector.

InvestingPro Tips indicate that Avery Dennison has a track record of consistent dividend payments, having maintained them for 54 consecutive years, and has raised its dividend for 13 consecutive years. This commitment to shareholder returns could be a reassuring signal for investors looking for stability in their investments. Additionally, the company's stock is currently trading near its 52-week high, which could suggest investor confidence in its market position and future prospects.

However, it's important to note that some analysts have revised their earnings estimates downwards for the upcoming period. This, coupled with a high Price / Earnings (P/E) ratio of 34.57 and an adjusted P/E ratio of 28.17 from the last twelve months as of Q4 2023, may indicate that the stock is valued at a premium compared to earnings. Moreover, with a Price / Book ratio of 8.1, the company is trading at a high multiple of its book value.

Investors interested in a deeper analysis can find more InvestingPro Tips at https://www.investing.com/pro/AVY, which include insights on the stock's volatility, return on assets, and analysts' profitability predictions for the year. For those considering an InvestingPro subscription, use the coupon code PRONEWS24 to enjoy an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a total of 11 additional tips for Avery Dennison and many other companies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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