Avery Dennison Co. (NYSE:AVY) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its position in Avery Dennison Co. (NYSE:AVY) by 56.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,470 shares of the industrial products company’s stock after acquiring an additional 532 shares during the period. Federated Hermes Inc.’s holdings in Avery Dennison were worth $321,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AVY. US Bancorp DE boosted its position in Avery Dennison by 26.6% during the 4th quarter. US Bancorp DE now owns 36,985 shares of the industrial products company’s stock worth $7,477,000 after acquiring an additional 7,766 shares during the period. Advisory Services Network LLC increased its stake in Avery Dennison by 28.4% during the 4th quarter. Advisory Services Network LLC now owns 7,720 shares of the industrial products company’s stock valued at $1,561,000 after buying an additional 1,707 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Avery Dennison by 7.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,536 shares of the industrial products company’s stock worth $4,556,000 after buying an additional 1,640 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Avery Dennison by 12.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 963 shares of the industrial products company’s stock valued at $195,000 after acquiring an additional 107 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Avery Dennison by 4.0% during the fourth quarter. TD Asset Management Inc now owns 314,921 shares of the industrial products company’s stock valued at $63,664,000 after acquiring an additional 12,091 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Citigroup lifted their target price on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Robert W. Baird upped their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Truist Financial lifted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $252.00 target price (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $242.36.

Avery Dennison Stock Performance

Avery Dennison stock opened at $218.48 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The company has a market cap of $17.60 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The firm’s 50 day simple moving average is $215.40 and its 200-day simple moving average is $218.87.

Avery Dennison (NYSE:AVY) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $1.92 EPS. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.61%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $64,745,870.60. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last 90 days. Company insiders own 1.10% of the company’s stock.

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.