Segall Bryant & Hamill LLC Decreases Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Segall Bryant & Hamill LLC decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,272 shares of the industrial products company's stock after selling 2,907 shares during the quarter. Segall Bryant & Hamill LLC owned 0.08% of Avery Dennison worth $11,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVY. Nordea Investment Management AB boosted its position in Avery Dennison by 485.2% in the 4th quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company's stock valued at $6,715,000 after buying an additional 29,541 shares during the period. Meyer Handelman Co. acquired a new stake in shares of Avery Dennison in the fourth quarter valued at $4,263,000. JPMorgan Chase & Co. boosted its holdings in Avery Dennison by 12.4% in the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company's stock valued at $92,771,000 after purchasing an additional 46,390 shares during the period. Unigestion Holding SA purchased a new stake in Avery Dennison during the 3rd quarter worth about $6,701,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Avery Dennison in the 4th quarter valued at about $218,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Avery Dennison Stock Performance

Shares of AVY traded down $2.35 during mid-day trading on Friday, reaching $175.64. 350,687 shares of the company's stock were exchanged, compared to its average volume of 541,528. The business's fifty day simple moving average is $183.29 and its 200-day simple moving average is $196.43. Avery Dennison Co. has a 52-week low of $173.02 and a 52-week high of $233.48. The stock has a market capitalization of $13.87 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Remove Ads

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, equities research analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's payout ratio is currently 40.37%.

Analyst Ratings Changes

A number of brokerages have recently commented on AVY. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Raymond James reiterated an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup reduced their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, UBS Group decreased their price target on Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average target price of $222.51.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.84% 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.