Truist Financial Corp Sells 15,644 Shares of Avery Dennison Corporation $AVY

Truist Financial Corp lessened its position in Avery Dennison Corporation (NYSE:AVY) by 13.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 101,455 shares of the industrial products company’s stock after selling 15,644 shares during the period. Truist Financial Corp’s holdings in Avery Dennison were worth $16,453,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. acquired a new stake in Avery Dennison in the 3rd quarter valued at $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Avery Dennison by 89.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $30,000 after buying an additional 80 shares in the last quarter. NewSquare Capital LLC lifted its stake in shares of Avery Dennison by 156.2% in the second quarter. NewSquare Capital LLC now owns 187 shares of the industrial products company’s stock valued at $33,000 after buying an additional 114 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Avery Dennison during the second quarter valued at about $35,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Avery Dennison during the second quarter worth about $37,000. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Price Performance

AVY opened at $185.51 on Friday. Avery Dennison Corporation has a fifty-two week low of $156.23 and a fifty-two week high of $190.45. The firm has a 50-day moving average of $181.50 and a 200 day moving average of $174.03. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 1.26. The firm has a market cap of $14.34 billion, a P/E ratio of 21.10, a PEG ratio of 3.12 and a beta of 1.00.

Analyst Ratings Changes

A number of equities analysts have issued reports on AVY shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Avery Dennison in a research note on Monday, December 29th. Citigroup lifted their target price on Avery Dennison from $180.00 to $188.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Argus set a $200.00 price target on Avery Dennison in a report on Tuesday, October 28th. UBS Group upgraded Avery Dennison from a “neutral” rating to a “buy” rating and raised their price objective for the company from $181.00 to $218.00 in a research note on Thursday, October 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Avery Dennison in a report on Thursday, October 23rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $204.36.

Avery Dennison Company Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.