Segall Bryant & Hamill LLC Sells 45,382 Shares of Avery Dennison Co. (NYSE:AVY)

Segall Bryant & Hamill LLC decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 41.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,179 shares of the industrial products company’s stock after selling 45,382 shares during the period. Segall Bryant & Hamill LLC owned about 0.08% of Avery Dennison worth $13,947,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC boosted its holdings in shares of Avery Dennison by 3.3% during the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 50 shares during the last quarter. Empirical Finance LLC grew its position in Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after purchasing an additional 55 shares during the period. Procyon Advisors LLC raised its stake in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after buying an additional 56 shares during the last quarter. Lindenwold Advisors INC lifted its holdings in shares of Avery Dennison by 0.6% during the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after buying an additional 59 shares during the period. Finally, Bailard Inc. boosted its stake in shares of Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.3 %

Avery Dennison stock opened at $197.64 on Thursday. Avery Dennison Co. has a 1 year low of $187.93 and a 1 year high of $233.48. The firm’s 50 day moving average price is $211.92 and its 200-day moving average price is $217.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a market cap of $15.88 billion, a P/E ratio of 23.73, a PEG ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm posted $2.10 EPS. Avery Dennison’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.78%. Avery Dennison’s payout ratio is currently 42.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVY shares. Citigroup reduced their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Barclays dropped their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 2.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Avery Dennison Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.