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

Segall Bryant & Hamill LLC trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 41.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,179 shares of the industrial products company's stock after selling 45,382 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.08% of Avery Dennison worth $13,947,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVY. Innealta Capital LLC bought a new position in shares of Avery Dennison in the 2nd quarter valued at $28,000. Kennebec Savings Bank bought a new position in Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the third quarter valued at about $39,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison during the second quarter worth about $42,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Avery Dennison in the second quarter valued at approximately $51,000. Institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Up 0.7 %

NYSE AVY traded up $1.48 on Thursday, hitting $199.12. 594,284 shares of the company were exchanged, compared to its average volume of 469,642. Avery Dennison Co. has a 12 month low of $187.93 and a 12 month high of $233.48. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market cap of $16.00 billion, a PE ratio of 23.96, a PEG ratio of 1.51 and a beta of 0.89. The stock has a fifty day moving average of $211.50 and a 200-day moving average of $217.06.

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

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's payout ratio is currently 42.26%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AVY shares. Barclays decreased their price target on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and upped their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Truist Financial lifted their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. UBS Group downgraded shares of Avery Dennison from a "buy" rating to a "neutral" rating and decreased their target price for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares of the company's stock, valued at approximately $66,333,345.68. The trade was a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.