Janney Montgomery Scott LLC Acquires 36,181 Shares of Amcor plc (NYSE:AMCR)

Janney Montgomery Scott LLC raised its stake in Amcor plc (NYSE:AMCRFree Report) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 997,570 shares of the company’s stock after acquiring an additional 36,181 shares during the quarter. Janney Montgomery Scott LLC owned about 0.07% of Amcor worth $9,138,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Signaturefd LLC boosted its position in shares of Amcor by 1,619.5% during the 3rd quarter. Signaturefd LLC now owns 3,267 shares of the company’s stock worth $30,000 after acquiring an additional 3,077 shares in the last quarter. Money Concepts Capital Corp acquired a new stake in Amcor in the fourth quarter valued at approximately $31,000. Clear Street Markets LLC boosted its position in Amcor by 93.6% in the first quarter. Clear Street Markets LLC now owns 2,913 shares of the company’s stock valued at $33,000 after buying an additional 1,408 shares in the last quarter. Quent Capital LLC boosted its position in Amcor by 99.6% in the third quarter. Quent Capital LLC now owns 3,814 shares of the company’s stock valued at $35,000 after buying an additional 1,903 shares in the last quarter. Finally, West Tower Group LLC acquired a new stake in Amcor in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 49.52% of the company’s stock.

Insider Activity

In other news, Director Arun Nayar sold 10,261 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $9.39, for a total transaction of $96,350.79. Following the completion of the transaction, the director now owns 52,527 shares of the company’s stock, valued at $493,228.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial cut their target price on shares of Amcor from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.40.

Check Out Our Latest Analysis on AMCR

Amcor Price Performance

AMCR stock opened at $9.10 on Friday. The company has a fifty day moving average price of $9.56 and a 200-day moving average price of $9.38. The company has a market capitalization of $13.15 billion, a P/E ratio of 20.68, a PEG ratio of 10.04 and a beta of 0.80. Amcor plc has a 52-week low of $8.45 and a 52-week high of $11.51. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.74 and a current ratio of 1.25.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.49%. The ex-dividend date is Tuesday, February 27th. Amcor’s payout ratio is currently 113.64%.

Amcor Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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