Hartford Funds Management Co LLC Invests $607,000 in Amcor plc (NYSE:AMCR)

Hartford Funds Management Co LLC acquired a new position in Amcor plc (NYSE:AMCR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 64,520 shares of the company's stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. True Wealth Design LLC grew its position in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after purchasing an additional 3,225 shares during the period. Jones Financial Companies Lllp raised its stake in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after buying an additional 2,660 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Amcor during the 4th quarter valued at $60,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Amcor by 11,326.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after buying an additional 7,249 shares during the period. 45.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company's stock.

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Amcor Price Performance

Shares of AMCR traded down $0.27 during trading hours on Tuesday, reaching $10.00. 31,485,145 shares of the stock traded hands, compared to its average volume of 21,465,584. The company has a market cap of $14.45 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company's 50-day moving average price is $9.87 and its two-hundred day moving average price is $10.38. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The business's revenue was down .3% on a year-over-year basis. On average, analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.10%. Amcor's dividend payout ratio is currently 92.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AMCR. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research 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. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a report on Wednesday, December 11th. Finally, Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.