Natixis Advisors LLC Acquires 124,945 Shares of Amcor plc (NYSE:AMCR)

Natixis Advisors LLC lifted its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 24.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 634,631 shares of the company's stock after purchasing an additional 124,945 shares during the quarter. Natixis Advisors LLC's holdings in Amcor were worth $7,190,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lake Street Advisors Group LLC lifted its stake in shares of Amcor by 8.4% in the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock valued at $138,000 after buying an additional 946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock valued at $132,000 after acquiring an additional 1,023 shares in the last quarter. Forum Financial Management LP boosted its stake in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock valued at $167,000 after purchasing an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company's stock worth $36,000 after purchasing an additional 1,241 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. Robert W. Baird raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Friday, August 16th. Citigroup upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price on Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $10.94.

Amcor Stock Performance

AMCR stock traded up $0.02 during midday trading on Friday, reaching $10.49. 15,241,445 shares of the company's stock traded hands, compared to its average volume of 9,235,074. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The company has a 50-day moving average price of $10.86 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The firm has a market capitalization of $15.16 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company earned $0.16 EPS. The firm's revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be paid a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor's previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.86%. Amcor's dividend payout ratio is currently 96.23%.

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.