Truist Financial Corp Sells 14,076 Shares of Avery Dennison Co. (NYSE:AVY)

Truist Financial Corp trimmed its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 336,419 shares of the industrial products company's stock after selling 14,076 shares during the quarter. Truist Financial Corp owned about 0.42% of Avery Dennison worth $62,954,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc increased its position in shares of Avery Dennison by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company's stock valued at $3,022,000 after acquiring an additional 553 shares in the last quarter. Allworth Financial LP boosted its stake in Avery Dennison by 127.6% during the 4th quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company's stock valued at $373,000 after purchasing an additional 1,097 shares during the last quarter. Figure 8 Investment Strategies LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth $1,461,000. Vontobel Holding Ltd. raised its stake in shares of Avery Dennison by 11.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company's stock worth $268,000 after purchasing an additional 150 shares during the last quarter. Finally, Howard Bailey Securities LLC lifted its holdings in shares of Avery Dennison by 41.6% during the fourth quarter. Howard Bailey Securities LLC now owns 2,134 shares of the industrial products company's stock valued at $399,000 after purchasing an additional 627 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Performance

NYSE AVY traded up $0.07 on Friday, hitting $184.34. 672,244 shares of the company traded hands, compared to its average volume of 751,584. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The business's 50 day moving average price is $187.22 and its 200-day moving average price is $202.71. The company has a market capitalization of $14.81 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 2.05 and a beta of 0.89. Avery Dennison Co. has a 52-week low of $178.72 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison's payout ratio is 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVY shares. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. UBS Group reduced their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Bank of America lowered their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $210.00 to $205.00 in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $227.15.

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.