KLP Kapitalforvaltning AS Takes Position in Amcor plc (NYSE:AMCR)

KLP Kapitalforvaltning AS bought a new stake in Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 520,992 shares of the company's stock, valued at approximately $4,903,000.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its position in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. grew its stake in shares of Amcor by 39.3% during the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock valued at $8,162,000 after buying an additional 203,166 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company's stock worth $2,464,000 after buying an additional 95,805 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Amcor during the 3rd quarter worth approximately $5,919,000. Finally, Van ECK Associates Corp purchased a new position in Amcor during the 4th quarter valued at $2,605,000. Institutional investors own 45.14% of the company's stock.

Analyst Ratings Changes

AMCR has been the topic of a number of recent analyst reports. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and increased their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. 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 research report on Wednesday, December 11th. UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, December 11th. Finally, Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and lifted their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $11.46.

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Insider Buying and Selling at Amcor

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

Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.08 during trading on Friday, hitting $9.64. The stock had a trading volume of 21,951,054 shares, compared to its average volume of 13,050,138. The stock has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $10.24. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth 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 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 issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate 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%. The company's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. On average, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 5.29%. The ex-dividend date was Wednesday, February 26th. Amcor's payout ratio is currently 92.73%.

Amcor Company 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.