Amcor plc (NYSE:AMCR) Stake Raised by Mariner LLC

Mariner LLC increased its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,804 shares of the company's stock after buying an additional 45,203 shares during the quarter. Mariner LLC's holdings in Amcor were worth $4,176,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMCR. Jones Financial Companies Lllp increased its position in Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after acquiring an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the fourth quarter valued at $44,000. Huntington National Bank increased its holdings in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after purchasing an additional 1,522 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Amcor during the fourth quarter valued at about $60,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Amcor by 11,326.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock worth $69,000 after purchasing an additional 7,249 shares during the period. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Amcor stock traded down $0.05 during mid-day trading on Wednesday, hitting $9.51. The company's stock had a trading volume of 31,744,575 shares, compared to its average volume of 15,361,396. The stock has a market capitalization of $13.75 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.96 and a beta of 0.78. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The stock's fifty day moving average price is $9.70 and its two-hundred day moving average price is $10.00. 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 earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the previous year, the firm posted $0.09 EPS. The company's quarterly revenue was down .3% on a year-over-year basis. Research analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio is presently 92.73%.

Insiders Place Their Bets

In other news, Director Achal Agarwal purchased 10,000 shares of the business's stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company's stock, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on AMCR. Truist Financial lowered their target price on shares of Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday. Raymond James started coverage on Amcor in a report on Tuesday. They set a "market perform" rating on the stock. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and upped their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Four 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.31.

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.