Amcor plc (NYSE:AMCR) Stake Raised by Intech Investment Management LLC

Intech Investment Management LLC increased its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 507.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,322 shares of the company's stock after buying an additional 435,489 shares during the period. Intech Investment Management LLC's holdings in Amcor were worth $4,906,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMCR. Larson Financial Group LLC grew its position in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after buying an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after acquiring an additional 2,660 shares in the last quarter. True Wealth Design LLC increased its position 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 worth $38,000 after purchasing an additional 3,225 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Amcor in the 4th quarter valued at about $60,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Achal Agarwal purchased 10,000 shares of the company's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares of the company's stock, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

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Amcor Stock Performance

Shares of AMCR stock traded down $0.29 during trading hours on Friday, reaching $9.44. The stock had a trading volume of 61,912,768 shares, compared to its average volume of 12,257,052. The firm has a market capitalization of $13.64 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The firm has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $10.29. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

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

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.41%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is currently 92.73%.

Analyst Ratings Changes

A number of research firms recently commented on AMCR. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of "Moderate Buy" and an average 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.