AssuredPartners Investment Advisors LLC Takes Position in Amcor plc (NYSE:AMCR)

AssuredPartners Investment Advisors LLC acquired a new stake in Amcor plc (NYSE:AMCR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 61,618 shares of the company's stock, valued at approximately $580,000.

A number of other institutional investors have also recently bought and sold shares of AMCR. CWA Asset Management Group LLC boosted its stake in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock worth $304,000 after acquiring an additional 1,213 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Amcor by 11.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock worth $131,000 after purchasing an additional 1,409 shares during the period. New York Life Investment Management LLC raised its holdings in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock worth $1,842,000 after purchasing an additional 1,507 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Amcor by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company's stock worth $4,161,000 after purchasing an additional 1,761 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of Amcor by 7.1% in the 3rd quarter. IHT Wealth Management LLC now owns 27,597 shares of the company's stock valued at $313,000 after buying an additional 1,831 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on AMCR shares. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a "hold" rating to a "buy" rating and raised their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research note 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.46.

Insiders Place Their Bets

In related news, Director Achal Agarwal acquired 10,000 shares of the business's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company's stock.

Amcor Stock Up 0.3 %

Shares of NYSE:AMCR traded up $0.03 during midday trading on Tuesday, hitting $9.73. The stock had a trading volume of 10,914,274 shares, compared to its average volume of 13,094,367. The company has a market cap of $14.06 billion, a P/E ratio of 17.66, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The business's 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.22. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

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

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.24%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio 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.