Associated Banc Corp Cuts Stake in Amcor plc (NYSE:AMCR)

Associated Banc Corp decreased its stake in Amcor plc (NYSE:AMCR - Free Report) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,017 shares of the company's stock after selling 70,158 shares during the quarter. Associated Banc Corp's holdings in Amcor were worth $2,362,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMCR. Entropy Technologies LP acquired a new stake in shares of Amcor in the third quarter valued at about $345,000. GSA Capital Partners LLP grew its position in shares of Amcor by 51.9% in the third quarter. GSA Capital Partners LLP now owns 34,190 shares of the company's stock valued at $387,000 after purchasing an additional 11,685 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after acquiring an additional 1,085 shares during the last quarter. Metis Global Partners LLC boosted its position in Amcor by 21.9% during the third quarter. Metis Global Partners LLC now owns 131,308 shares of the company's stock worth $1,488,000 after acquiring an additional 23,620 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in Amcor by 30.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,759 shares of the company's stock worth $394,000 after acquiring an additional 8,078 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

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Insider Activity

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AMCR. Citigroup upgraded shares of Amcor from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Macquarie upgraded shares of Amcor from a "neutral" rating to an "outperform" rating in a research report on Wednesday, November 27th. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Amcor currently has a consensus rating of "Moderate Buy" and an average target price of $11.46.

Amcor Trading Down 1.2 %

AMCR stock traded down $0.12 during trading on Thursday, reaching $9.73. 29,461,404 shares of the stock were exchanged, compared to its average volume of 12,013,212. The business has a 50 day moving average price of $9.92 and a 200-day moving average price of $10.32. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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, meeting analysts' consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business's revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, research analysts predict 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 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 5.24%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is 92.73%.

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.