MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 5,570 Shares of Amcor plc (NYSE:AMCR)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Amcor plc (NYSE:AMCR) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 247,624 shares of the company’s stock after purchasing an additional 5,570 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Amcor were worth $2,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMCR. Marshall Wace LLP boosted its stake in shares of Amcor by 303.9% in the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company’s stock valued at $81,863,000 after purchasing an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP lifted its stake in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after purchasing an additional 5,614,233 shares during the last quarter. First Trust Advisors LP boosted its position in Amcor by 474.7% during the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company’s stock valued at $50,837,000 after buying an additional 4,462,367 shares during the period. Invesco Ltd. boosted its position in Amcor by 16.0% during the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after buying an additional 4,199,209 shares during the period. Finally, Eminence Capital LP bought a new position in shares of Amcor during the fourth quarter valued at about $27,065,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Down 1.2%

Shares of NYSE:AMCR opened at $9.19 on Thursday. The stock’s 50-day moving average is $9.37 and its 200 day moving average is $9.75. The company has a market cap of $13.28 billion, a PE ratio of 16.70, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 1 year low of $8.37 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a yield of 5.55%. Amcor’s dividend payout ratio (DPR) is presently 91.07%.

Insider Transactions at Amcor

In other news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of recent research reports. Raymond James started coverage on Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating for the company. Truist Financial lowered their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Amcor presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

Amcor 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.