Amcor plc (NYSE:AMCR) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. reduced its stake in Amcor plc (NYSE:AMCR) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 114,739 shares of the company’s stock after selling 8,818 shares during the quarter. Fulton Bank N.A.’s holdings in Amcor were worth $1,145,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates lifted its stake in Amcor by 13.9% during the 1st quarter. Raymond James & Associates now owns 222,899 shares of the company’s stock worth $2,525,000 after acquiring an additional 27,213 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Amcor by 33.0% during the first quarter. Private Advisor Group LLC now owns 26,878 shares of the company’s stock worth $304,000 after purchasing an additional 6,664 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Amcor by 23.3% in the first quarter. Natixis Advisors L.P. now owns 121,261 shares of the company’s stock valued at $1,374,000 after purchasing an additional 22,888 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Amcor by 5.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 202,541 shares of the company’s stock valued at $2,295,000 after purchasing an additional 10,101 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Amcor by 58.5% during the 1st quarter. Vontobel Holding Ltd. now owns 45,244 shares of the company’s stock worth $522,000 after buying an additional 16,707 shares during the period. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Bank of America cut shares of Amcor from a “buy” rating to an “underperform” rating in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.80.

Amcor Price Performance

AMCR stock opened at $9.53 on Friday. The business’s 50-day moving average is $9.73 and its two-hundred day moving average is $10.27. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.19 and a quick ratio of 0.69. The firm has a market capitalization of $13.80 billion, a P/E ratio of 13.42, a P/E/G ratio of 6.10 and a beta of 0.79. Amcor plc has a 1 year low of $9.13 and a 1 year high of $12.78.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, August 16th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Amcor had a net margin of 7.14% and a return on equity of 25.98%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Analysts anticipate that Amcor plc will post 0.69 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Thursday, September 7th will be paid a dividend of $0.1225 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 5.14%. Amcor’s payout ratio is currently 69.01%.

Insider Activity at Amcor

In other Amcor news, Director Arun Nayar sold 30,000 shares of Amcor stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total transaction of $282,000.00. Following the completion of the sale, the director now directly owns 45,072 shares of the company’s stock, valued at approximately $423,676.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

About Amcor

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.