Intech Investment Management LLC Decreases Stake in Amcor plc (NYSE:AMCR)

Intech Investment Management LLC decreased its holdings in Amcor plc (NYSE:AMCR - Free Report) by 51.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,833 shares of the company's stock after selling 90,020 shares during the period. Intech Investment Management LLC's holdings in Amcor were worth $972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rise Advisors LLC bought a new stake in shares of Amcor in the third quarter worth $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor in the third quarter worth $35,000. Quent Capital LLC grew its holdings 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 acquiring an additional 1,241 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company's stock worth $39,000 after acquiring an additional 2,519 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company's stock worth $46,000 after acquiring an additional 1,299 shares during the period. Institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of NYSE AMCR traded up $0.11 during mid-day trading on Thursday, reaching $10.50. The company's stock had a trading volume of 19,363,937 shares, compared to its average volume of 9,356,792. The firm has a market capitalization of $15.18 billion, a PE ratio of 19.81, a P/E/G ratio of 1.89 and a beta of 0.85. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The stock has a fifty day moving average of $10.80 and a two-hundred day moving average of $10.51. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business's quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a $0.1275 dividend. This is a positive change from Amcor's previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. Amcor's dividend payout ratio is 96.23%.

Wall Street Analysts Forecast Growth

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

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.