Wed Sep 25 08:14:46 UTC 2024: ## Federated Hermes Increases Stake in Avery Dennison as Other Funds Follow Suit

**New York, NY – September 25, 2024** – Federated Hermes Inc. has increased its position in Avery Dennison Co. (NYSE: AVY) by 56.7% during the second quarter, according to a recent 13F filing with the Securities & Exchange Commission. This move comes as other hedge funds, including US Bancorp DE, Advisory Services Network LLC, Nomura Asset Management Co. Ltd., Steward Partners Investment Advisory LLC, and TD Asset Management Inc., also boosted their holdings in the industrial products company.

Federated Hermes now owns 1,470 shares of Avery Dennison stock, valued at $321,000. Institutional investors collectively hold 94.17% of the company’s stock.

Avery Dennison’s recent earnings report, released on July 23rd, showed strong results, with the company beating analysts’ expectations for both earnings per share and revenue. This performance has also attracted the attention of equity research analysts, with several increasing their price targets for the stock.

While UBS Group downgraded the stock to a “neutral” rating, Truist Financial, Robert W. Baird, and BMO Capital Markets have all maintained a “buy” or “outperform” rating. Overall, MarketBeat.com gives Avery Dennison a “Moderate Buy” consensus rating with a target price of $242.36.

Avery Dennison’s performance has also caught the attention of insiders, with Chairman Mitchell R. Butier selling 3,000 shares on August 5th and another 10,000 shares on August 19th. However, the overall insider sentiment remains positive, with insiders owning 1.10% of the company’s stock.

**About Avery Dennison**

Avery Dennison Corporation is a global leader in materials science and digital identification solutions. The company’s diverse product offerings include pressure-sensitive materials, performance tapes, mechanical fasteners, and other adhesive-based products. Avery Dennison operates in numerous global markets, including the United States, Europe, the Middle East, North Africa, Asia, and Latin America.

**Disclaimer:** This is a news article summarizing information from publicly available sources. It is not intended to be a recommendation to buy or sell any securities. Investors should always conduct their own due diligence before making any investment decisions.

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