Convergence Investment Partners LLC Invests $879,000 in Amcor plc (NYSE:AMCR)

Convergence Investment Partners LLC bought a new stake in Amcor plc (NYSE:AMCR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 93,369 shares of the company's stock, valued at approximately $879,000.

Several other institutional investors also recently bought and sold shares of AMCR. Larson Financial Group LLC grew its position in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares during the period. Signaturefd LLC boosted its stake in shares of Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company's stock valued at $49,000 after buying an additional 3,242 shares during the period. Covestor Ltd boosted its stake in shares of Amcor by 441.0% in the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company's stock valued at $90,000 after buying an additional 6,491 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Amcor in the 3rd quarter valued at about $97,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Down 1.3 %

NYSE AMCR traded down $0.14 during mid-day trading on Friday, reaching $10.26. 12,075,943 shares of the company's stock traded hands, compared to its average volume of 18,614,693. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a fifty day simple moving average of $9.72 and a 200-day simple moving average of $10.42. 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 company has a market cap of $14.82 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.95 and a beta of 0.84.

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

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor's dividend payout ratio is presently 92.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Bank of America upgraded Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and boosted their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Finally, Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.46.

Amcor Profile

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.