Federated Hermes Inc. Has $196,000 Position in Avery Dennison Co. (NYSE:AVY)

Federated Hermes Inc. lowered its holdings in Avery Dennison Co. (NYSE:AVY) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 970 shares of the industrial products company’s stock after selling 118 shares during the quarter. Federated Hermes Inc.’s holdings in Avery Dennison were worth $196,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Avery Dennison during the 4th quarter worth $2,715,000. Mutual of America Capital Management LLC boosted its holdings in Avery Dennison by 133.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock worth $5,320,000 after acquiring an additional 15,040 shares during the last quarter. Cerity Partners LLC boosted its holdings in Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Avery Dennison by 192.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock worth $2,166,000 after acquiring an additional 7,047 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Avery Dennison by 736.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock worth $26,080,000 after acquiring an additional 125,691 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.9 %

Shares of Avery Dennison stock opened at $221.55 on Monday. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $225.26. The stock’s 50-day simple moving average is $216.39 and its 200 day simple moving average is $201.86. The stock has a market capitalization of $17.85 billion, a P/E ratio of 32.34, a P/E/G ratio of 3.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 0.87.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.88 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s payout ratio is currently 47.30%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AVY shares. Robert W. Baird lifted their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Truist Financial lifted their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lifted their target price on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Raymond James reiterated an “outperform” rating and set a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Finally, StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Insider Activity at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,879 shares of company stock worth $4,217,705. Company insiders own 1.10% of the company’s stock.

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.