Dynamic Technology Lab Private Ltd acquired a new stake in Amcor plc (NYSE:AMCR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 107,239 shares of the company's stock, valued at approximately $1,215,000.
A number of other hedge funds have also recently bought and sold shares of the company. M&G Plc increased its stake in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company's stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in Amcor during the 2nd quarter worth approximately $781,000. Cardinal Capital Management increased its position in Amcor by 832.2% during the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company's stock worth $1,131,000 after purchasing an additional 103,213 shares in the last quarter. Natixis Advisors LLC raised its holdings in Amcor by 24.5% in the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company's stock valued at $7,190,000 after buying an additional 124,945 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its stake in Amcor by 30.1% during the third quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company's stock worth $6,903,000 after buying an additional 140,850 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.
Amcor Trading Down 0.9 %
Shares of AMCR opened at $10.39 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The stock has a 50-day moving average price of $10.83 and a 200 day moving average price of $10.51. The company has a market capitalization of $15.01 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.89 and a beta of 0.85.
Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business's quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.
Amcor Increases Dividend
The business also recently announced 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 represents a $0.51 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Amcor's previous quarterly dividend of $0.13. Amcor's dividend payout ratio is 96.23%.
Analysts Set New Price Targets
A number of brokerages have recently commented on AMCR. JPMorgan Chase & Co. raised their target price on shares of Amcor from $10.00 to $11.10 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. Citigroup boosted their price objective on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Wells Fargo & Company raised their target price on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Finally, Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Amcor has an average rating of "Hold" and a consensus price target of $10.94.
Get Our Latest Report on Amcor
Amcor Company Profile
(
Free Report)
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.
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