Thompson Siegel & Walmsley LLC Sells 2,728 Shares of Avery Dennison Co. (NYSE:AVY)

Thompson Siegel & Walmsley LLC trimmed its position in Avery Dennison Co. (NYSE:AVY) by 14.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,000 shares of the industrial products company’s stock after selling 2,728 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Avery Dennison were worth $3,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Innealta Capital LLC purchased a new stake in Avery Dennison during the 2nd quarter valued at about $28,000. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison in the 3rd quarter worth $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison in the 3rd quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison during the 2nd quarter valued at approximately $42,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Avery Dennison in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $199.12 on Friday. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a one year low of $187.93 and a one year high of $233.48. The company has a 50 day moving average price of $211.50 and a 200 day moving average price of $217.06.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. Sell-side analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Barclays dropped their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets lowered their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Citigroup reduced their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $244.96.

About Avery Dennison

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.