Asset Management One Co. Ltd. Grows Holdings in Amcor plc (NYSE:AMCR)

Asset Management One Co. Ltd. increased its position in shares of Amcor plc (NYSE:AMCR) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 567,573 shares of the company’s stock after buying an additional 47,348 shares during the period. Asset Management One Co. Ltd.’s holdings in Amcor were worth $5,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the period. Franklin Resources Inc. increased its stake in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after buying an additional 203,166 shares during the period. Natixis Advisors LLC increased its stake in Amcor by 24.5% during the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after buying an additional 124,945 shares during the period. Cerity Partners LLC increased its stake in Amcor by 78.7% during the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after buying an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Amcor during the 3rd quarter worth $5,919,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.8 %

NYSE AMCR opened at $10.16 on Wednesday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a 50-day simple moving average of $9.70 and a 200-day simple moving average of $10.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.26. The firm has a market capitalization of $14.68 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.92 and a beta of 0.84.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMCR shares. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

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.