Oregon Public Employees Retirement Fund Cuts Stake in Amcor plc (NYSE:AMCR)

Oregon Public Employees Retirement Fund lowered its position in shares of Amcor plc (NYSE:AMCR – Get Rating) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 114,841 shares of the company’s stock after selling 2,747 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Amcor were worth $1,232,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its stake in shares of Amcor by 164.3% during the third quarter. Crossmark Global Holdings Inc. now owns 233,213 shares of the company’s stock valued at $2,502,000 after buying an additional 144,985 shares during the period. Kestra Advisory Services LLC grew its stake in Amcor by 184.2% in the third quarter. Kestra Advisory Services LLC now owns 109,235 shares of the company’s stock valued at $1,172,000 after purchasing an additional 70,794 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Amcor in the third quarter valued at about $18,098,000. Park Avenue Securities LLC grew its stake in Amcor by 57.7% in the third quarter. Park Avenue Securities LLC now owns 23,956 shares of the company’s stock valued at $257,000 after purchasing an additional 8,761 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. grew its stake in Amcor by 3.2% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 49,602 shares of the company’s stock valued at $532,000 after purchasing an additional 1,530 shares during the last quarter. Hedge funds and other institutional investors own 46.79% of the company’s stock.

Amcor Price Performance

Shares of AMCR stock opened at $11.88 on Monday. Amcor plc has a fifty-two week low of $10.42 and a fifty-two week high of $13.60. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 3.84 and a beta of 0.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.71 and a current ratio of 1.27. The stock’s 50-day simple moving average is $12.09 and its 200-day simple moving average is $11.96.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Investors of record on Wednesday, November 23rd were issued a dividend of $0.1225 per share. This is an increase from Amcor’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 22nd. This represents a $0.49 dividend on an annualized basis and a dividend yield of 4.12%. Amcor’s payout ratio is 87.50%.

Insider Buying and Selling

In other news, Director Nicholas T. Long sold 5,372 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $12.40, for a total value of $66,612.80. Following the completion of the sale, the director now directly owns 29,769 shares in the company, valued at $369,135.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ian Wilson sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $12.38, for a total value of $1,238,000.00. Following the completion of the sale, the executive vice president now directly owns 131,610 shares in the company, valued at $1,629,331.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas T. Long sold 5,372 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $12.40, for a total value of $66,612.80. Following the completion of the sale, the director now owns 29,769 shares of the company’s stock, valued at $369,135.60. The disclosure for this sale can be found here. Insiders sold 1,080,955 shares of company stock valued at $13,145,237 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMCR. TheStreet upgraded Amcor from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating in a research note on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.15.

About Amcor

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Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.