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

Segall Bryant & Hamill LLC cut its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 41.8% in the 3rd quarter, according to the company in its most recent disclosure with the 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 about 0.08% of Avery Dennison worth $13,947,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AVY. Innealta Capital LLC bought a new position in shares of Avery Dennison in the second quarter worth $28,000. Kennebec Savings Bank purchased a new position in Avery Dennison in the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter valued at $39,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the second quarter worth $42,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Avery Dennison during the 2nd quarter valued at about $51,000. 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. The firm has a 50 day moving average of $211.50 and a 200 day moving average of $217.06. 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 firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 23.73, a P/E/G ratio of 1.51 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $187.93 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 earnings per share. As a group, research analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's dividend payout ratio (DPR) is presently 42.26%.

Wall Street Analyst Weigh In

AVY has been the subject of several analyst reports. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Truist Financial boosted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Barclays cut their target price on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Finally, 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 research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of "Moderate Buy" and an average price target of $244.96.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 2.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Company 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.