Amcor (NYSE:AMCR) Hits New 52-Week Low - Time to Sell?

Amcor plc (NYSE:AMCR - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $8.74 and last traded at $8.80, with a volume of 2104504 shares traded. The stock had previously closed at $9.22.

Analysts Set New Price Targets

AMCR has been the subject of a number of analyst reports. Truist Financial raised Amcor from a "hold" rating to a "buy" rating and increased their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and increased their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Three equities research 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Stock Up 3.5 %

The company's fifty day simple moving average is $9.79 and its 200 day simple moving average is $10.09. 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 firm has a market capitalization of $13.49 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

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

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Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is presently 92.73%.

Insider Activity at Amcor

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 stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amcor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP boosted its position 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 worth $81,863,000 after purchasing an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 5,614,233 shares in the last quarter. First Trust Advisors LP boosted its holdings in Amcor by 474.7% in the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock worth $50,837,000 after acquiring an additional 4,462,367 shares in the last quarter. Invesco Ltd. increased its holdings in shares of 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 acquiring an additional 4,199,209 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Amcor during the fourth quarter valued at $31,485,000. Hedge funds and other institutional investors own 45.14% of the company's stock.

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.