State of Alaska Department of Revenue Boosts Stock Position in Amcor plc (NYSE:AMCR)

State of Alaska Department of Revenue boosted its holdings in Amcor plc (NYSE:AMCRGet Rating) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 215,950 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amcor were worth $2,684,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc increased its holdings in Amcor by 24,433.3% in the first quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company’s stock valued at $42,000 after buying an additional 3,665 shares during the last quarter. Cornerstone Advisory LLC purchased a new position in Amcor in the fourth quarter valued at $46,000. Northwestern Mutual Wealth Management Co. increased its holdings in Amcor by 78.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,493 shares of the company’s stock valued at $51,000 after buying an additional 1,982 shares during the last quarter. Riverview Trust Co increased its holdings in Amcor by 80.1% in the first quarter. Riverview Trust Co now owns 5,389 shares of the company’s stock valued at $61,000 after buying an additional 2,396 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Amcor in the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Amcor Price Performance

Shares of AMCR opened at $11.15 on Friday. Amcor plc has a fifty-two week low of $10.66 and a fifty-two week high of $13.60. The company has a market capitalization of $16.60 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. The firm has a 50-day simple moving average of $12.39 and a 200-day simple moving average of $12.25. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.67 and a current ratio of 1.15.

Amcor (NYSE:AMCRGet Rating) last announced its earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Amcor had a net margin of 5.53% and a return on equity of 27.37%. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts anticipate that Amcor plc will post 0.81 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Thursday, September 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.48 annualized dividend and a dividend yield of 4.30%. Amcor’s dividend payout ratio (DPR) is 90.57%.

Analyst Ratings Changes

Several research firms have issued reports on AMCR. Macquarie downgraded shares of Amcor from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 18th. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 4th. CLSA began coverage on shares of Amcor in a research note on Tuesday, July 19th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group downgraded shares of Amcor from a “hold” rating to an “underperform” rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.15.

Insider Transactions at Amcor

In other news, insider Louis Fred Stephan sold 29,762 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.63, for a total transaction of $375,894.06. Following the completion of the sale, the insider now owns 108,598 shares in the company, valued at $1,371,592.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ronald Stephen Delia sold 177,185 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $12.41, for a total transaction of $2,198,865.85. Following the transaction, the chief executive officer now owns 1,700,000 shares of the company’s stock, valued at $21,097,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Louis Fred Stephan sold 29,762 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $12.63, for a total value of $375,894.06. Following the transaction, the insider now directly owns 108,598 shares in the company, valued at approximately $1,371,592.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,905,114 shares of company stock worth $35,840,080. Company insiders own 0.28% of the company’s stock.

About Amcor

(Get Rating)

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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