Bank of Montreal Can Raises Position in Amcor plc (NYSE:AMCR)

Bank of Montreal Can increased its holdings in Amcor plc (NYSE:AMCRGet Rating) by 35.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 982,339 shares of the company’s stock after buying an additional 257,445 shares during the period. Bank of Montreal Can’s holdings in Amcor were worth $12,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hexagon Capital Partners LLC raised its position in Amcor by 1,680.9% during the second quarter. Hexagon Capital Partners LLC now owns 2,422 shares of the company’s stock valued at $30,000 after purchasing an additional 2,286 shares in the last quarter. First Horizon Advisors Inc. raised its position in Amcor by 81.2% during the second quarter. First Horizon Advisors Inc. now owns 3,076 shares of the company’s stock valued at $37,000 after purchasing an additional 1,378 shares in the last quarter. Clear Street Markets LLC raised its position in Amcor by 406.6% during the second quarter. Clear Street Markets LLC now owns 3,141 shares of the company’s stock valued at $39,000 after purchasing an additional 2,521 shares in the last quarter. CX Institutional purchased a new stake in Amcor during the second quarter valued at about $52,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Amcor by 78.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,493 shares of the company’s stock valued at $51,000 after purchasing an additional 1,982 shares in the last quarter. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Amcor Stock Up 0.8 %

NYSE AMCR opened at $12.08 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.27 and a quick ratio of 0.71. The stock has a market capitalization of $17.99 billion, a PE ratio of 21.57, a PEG ratio of 3.87 and a beta of 0.79. Amcor plc has a 1 year low of $10.42 and a 1 year high of $13.60. The business’s 50-day moving average is $11.27 and its 200 day moving average is $12.13.

Amcor (NYSE:AMCRGet Rating) last posted 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). The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.58 billion. Amcor had a return on equity of 28.47% and a net margin of 5.63%. Sell-side analysts forecast that Amcor plc will post 0.78 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Wednesday, November 23rd will be paid a $0.1225 dividend. The ex-dividend date of this dividend is Tuesday, November 22nd. This is a boost from Amcor’s previous quarterly dividend of $0.12. This represents a $0.49 annualized dividend and a dividend yield of 4.06%. Amcor’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In other Amcor news, CEO Ronald Stephen Delia sold 177,185 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $12.41, for a total value of $2,198,865.85. Following the completion of the sale, the chief executive officer now directly owns 1,700,000 shares in the company, valued at $21,097,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Amcor news, CEO Ronald Stephen Delia sold 177,185 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $12.41, for a total value of $2,198,865.85. Following the completion of the sale, the chief executive officer now directly owns 1,700,000 shares in the company, valued at $21,097,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric V. Roegner sold 1,035,748 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $12.58, for a total transaction 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 $3,501,114.64. The disclosure for this sale can be found here. Insiders have sold 2,875,352 shares of company stock valued at $35,464,186 over the last ninety days. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

AMCR has been the topic of a number of recent research reports. TheStreet raised Amcor from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. Morgan Stanley cut Amcor from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 4th. Jefferies Financial Group cut Amcor from a “hold” rating to an “underperform” rating in a research note on Thursday, August 18th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating in a research note on Thursday, October 13th. Finally, Macquarie cut Amcor from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.15.

Amcor Profile

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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

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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