Cerity Partners LLC Purchases 16,346 Shares of Amcor plc (NYSE:AMCR)

Cerity Partners LLC boosted its position in Amcor plc (NYSE:AMCRGet Rating) by 161.0% during the second quarter, Holdings Channel reports. The fund owned 26,497 shares of the company’s stock after acquiring an additional 16,346 shares during the period. Cerity Partners LLC’s holdings in Amcor were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMCR. State Street Corp grew its stake in shares of Amcor by 10.2% in the first quarter. State Street Corp now owns 112,644,781 shares of the company’s stock worth $1,276,265,000 after purchasing an additional 10,472,157 shares during the last quarter. Invesco Ltd. grew its stake in shares of Amcor by 40.9% in the first quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock worth $306,797,000 after purchasing an additional 7,854,257 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Amcor by 951.8% in the first quarter. Federated Hermes Inc. now owns 8,641,388 shares of the company’s stock worth $97,907,000 after purchasing an additional 7,819,836 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Amcor by 31.6% in the first quarter. American Century Companies Inc. now owns 13,977,289 shares of the company’s stock worth $158,362,000 after purchasing an additional 3,358,991 shares during the last quarter. Finally, ING Groep NV grew its stake in shares of Amcor by 328.3% in the second quarter. ING Groep NV now owns 4,282,788 shares of the company’s stock worth $53,235,000 after purchasing an additional 3,282,727 shares during the last quarter. Institutional investors own 47.76% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $11.82 on Monday. The firm has a 50 day moving average price of $11.28 and a 200-day moving average price of $12.14. Amcor plc has a 52-week low of $10.42 and a 52-week high of $13.60. The firm has a market capitalization of $17.60 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 3.81 and a beta of 0.79. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.71 and a current ratio of 1.27.

Amcor (NYSE:AMCRGet Rating) last released its earnings results on Tuesday, November 1st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Amcor had a net margin of 5.63% and a return on equity of 28.47%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Equities research analysts forecast that Amcor plc will post 0.78 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Wednesday, November 23rd will be given a dividend of $0.1225 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.49 annualized dividend and a dividend yield of 4.15%. This is an increase from Amcor’s previous quarterly dividend of $0.12. Amcor’s dividend payout ratio (DPR) is 85.71%.

Insider Activity at Amcor

In other Amcor news, insider Eric V. Roegner sold 1,035,748 shares of Amcor stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $12.58, for a total value of $13,029,709.84. Following the completion of the sale, the insider now owns 278,308 shares of the company’s stock, valued at approximately $3,501,114.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Louis Fred Stephan sold 27,500 shares of Amcor stock in a transaction on Monday, September 12th. The shares were sold at an average price of $12.46, for a total transaction of $342,650.00. Following the transaction, the insider now owns 112,464 shares in the company, valued at approximately $1,401,301.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric V. Roegner sold 1,035,748 shares of Amcor stock in a transaction on Friday, August 26th. The shares were sold at an average price of $12.58, for a total transaction of $13,029,709.84. Following the transaction, the insider now owns 278,308 shares in the company, valued at approximately $3,501,114.64. The disclosure for this sale can be found here. Insiders sold 2,905,114 shares of company stock valued at $35,840,080 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AMCR shares. TheStreet upgraded shares of Amcor from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. Macquarie lowered shares of Amcor from an “outperform” rating to a “neutral” rating in a report on Thursday, August 18th. Jefferies Financial Group lowered shares of Amcor from a “hold” rating to an “underperform” rating in a report on Thursday, August 18th. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 4th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating in a report on Thursday, October 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.15.

About Amcor

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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.

See Also

Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor plc (NYSE:AMCRGet Rating).

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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