Thompson Siegel & Walmsley LLC Reduces Position in Avery Dennison Co. (NYSE:AVY)

Thompson Siegel & Walmsley LLC lowered its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 14.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,000 shares of the industrial products company's stock after selling 2,728 shares during the quarter. Thompson Siegel & Walmsley LLC's holdings in Avery Dennison were worth $3,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVY. Swedbank AB bought a new stake in shares of Avery Dennison in the first quarter valued at approximately $102,117,000. National Bank of Canada FI raised its holdings in Avery Dennison by 795.2% during the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company's stock valued at $34,190,000 after acquiring an additional 142,348 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Avery Dennison by 179.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company's stock worth $47,258,000 after acquiring an additional 138,808 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after acquiring an additional 90,250 shares during the period. Finally, Bahl & Gaynor Inc. grew its position in shares of Avery Dennison by 51.9% in the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company's stock valued at $52,497,000 after purchasing an additional 81,993 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. UBS Group lowered shares of Avery Dennison from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and raised their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $3.00 during trading on Friday, hitting $202.59. 488,585 shares of the stock traded hands, compared to its average volume of 469,725. The firm's fifty day moving average is $211.12 and its 200-day moving average is $216.94. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 1.51 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $187.93 and a 52 week high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $2.10 earnings per share. The business's revenue was up 4.1% compared to the same quarter last year. Research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given 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 1.74%. Avery Dennison's payout ratio is 42.26%.

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.