Lido Advisors LLC Takes $1.95 Million Position in Amcor plc (NYSE:AMCR)

Lido Advisors LLC bought a new stake in shares of Amcor plc (NYSE:AMCR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 195,248 shares of the company’s stock, valued at approximately $1,949,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Linden Thomas Advisory Services LLC raised its stake in Amcor by 2.8% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 129,112 shares of the company’s stock valued at $1,289,000 after purchasing an additional 3,533 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Amcor in the 2nd quarter valued at $3,837,000. Barclays PLC raised its stake in Amcor by 159.5% in the 2nd quarter. Barclays PLC now owns 3,224,711 shares of the company’s stock valued at $32,183,000 after purchasing an additional 1,981,919 shares during the last quarter. Sei Investments Co. raised its stake in Amcor by 33.1% in the 1st quarter. Sei Investments Co. now owns 1,369,790 shares of the company’s stock valued at $15,588,000 after purchasing an additional 340,710 shares during the last quarter. Finally, Vinva Investment Management Ltd acquired a new position in Amcor in the 1st quarter valued at $577,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Amcor Stock Up 1.0 %

Shares of AMCR opened at $9.35 on Thursday. The stock has a fifty day simple moving average of $9.00 and a two-hundred day simple moving average of $9.62. The company has a quick ratio of 0.74, a current ratio of 1.27 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $13.51 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 9.81 and a beta of 0.80. Amcor plc has a 52-week low of $8.45 and a 52-week high of $12.78.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, August 16th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Amcor had a net margin of 6.72% and a return on equity of 24.92%. As a group, equities analysts forecast that Amcor plc will post 0.69 EPS for the current year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.35%. This is a boost from Amcor’s previous quarterly dividend of $0.12. Amcor’s dividend payout ratio (DPR) is presently 74.24%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMCR. Truist Financial cut their target price on Amcor from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. TheStreet downgraded Amcor from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Amcor currently has an average rating of “Hold” and an average target price of $10.40.

Insider Activity at Amcor

In other Amcor news, Director Arun Nayar sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $9.40, for a total transaction of $282,000.00. Following the transaction, the director now directly owns 45,072 shares in the company, valued at $423,676.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by insiders.

Amcor Company Profile

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.