Weiss Asset Management LP acquired a new position in Amcor plc (NYSE:AMCR – Get Rating) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 435,150 shares of the company’s stock, valued at approximately $4,669,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in Amcor by 123.3% during the 2nd quarter. Federated Hermes Inc. now owns 19,299,989 shares of the company’s stock valued at $239,899,000 after purchasing an additional 10,658,601 shares in the last quarter. Phoenix Holdings Ltd. bought a new position in Amcor during the 3rd quarter valued at $112,629,000. State Street Corp boosted its stake in Amcor by 10.2% during the 1st quarter. State Street Corp now owns 112,644,781 shares of the company’s stock valued at $1,276,265,000 after purchasing an additional 10,472,157 shares in the last quarter. Invesco Ltd. boosted its stake in Amcor by 40.9% during the 1st quarter. Invesco Ltd. now owns 27,078,220 shares of the company’s stock valued at $306,797,000 after purchasing an additional 7,854,257 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Amcor by 162.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,999,242 shares of the company’s stock valued at $33,981,000 after purchasing an additional 1,856,228 shares in the last quarter. 46.79% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on AMCR. JPMorgan Chase & Co. lowered Amcor from an “overweight” rating to a “neutral” rating and set a $11.70 price objective for the company. in a research note on Tuesday, January 24th. Morgan Stanley lowered Amcor from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Amcor presently has a consensus rating of “Hold” and an average target price of $12.00.
Amcor Stock Performance
Amcor (NYSE:AMCR – Get Rating) last issued its earnings results on Tuesday, February 7th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Amcor had a return on equity of 28.65% and a net margin of 7.14%. As a group, equities analysts predict that Amcor plc will post 0.77 EPS for the current fiscal year.
Amcor Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Wednesday, March 1st will be given a $0.1225 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.49 annualized dividend and a dividend yield of 4.58%. Amcor’s dividend payout ratio (DPR) is presently 68.06%.
Amcor Company Profile
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.
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