Segall Bryant & Hamill LLC Has $9.30 Million Position in Avery Dennison Corporation (NYSE:AVY)

Segall Bryant & Hamill LLC cut its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 13.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 52,231 shares of the industrial products company’s stock after selling 8,041 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Avery Dennison were worth $9,296,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Nomura Holdings Inc. purchased a new position in shares of Avery Dennison during the 4th quarter worth approximately $496,000. Brown Advisory Inc. grew its position in Avery Dennison by 3.6% in the 1st quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 76 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Avery Dennison by 9.4% in the first quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 207 shares during the last quarter. Spire Wealth Management increased its position in Avery Dennison by 630.9% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the industrial products company’s stock worth $392,000 after purchasing an additional 1,899 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Avery Dennison by 1.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,185 shares of the industrial products company’s stock worth $2,169,000 after purchasing an additional 217 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

AVY opened at $180.63 on Friday. The firm has a 50-day moving average of $179.26 and a 200 day moving average of $179.64. The firm has a market cap of $14.12 billion, a P/E ratio of 20.81, a PEG ratio of 2.50 and a beta of 0.87. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.68 and a current ratio of 1.03. Avery Dennison Corporation has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a return on equity of 33.11% and a net margin of 7.98%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. On average, research analysts expect that Avery Dennison Corporation will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Wednesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. Avery Dennison’s payout ratio is presently 43.32%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Avery Dennison from $215.00 to $210.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. UBS Group lowered their target price on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $205.00 to $172.00 in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Raymond James Financial increased their price target on Avery Dennison from $194.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $197.50.

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.