Mitsubishi UFJ Asset Management Co. Ltd. Has $27 Million Holdings in Amcor plc (NYSE:AMCR)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Amcor plc (NYSE:AMCR - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,894,364 shares of the company's stock after buying an additional 278,719 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.20% of Amcor worth $27,004,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AMCR. Larson Financial Group LLC increased its holdings in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of 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. True Wealth Design LLC boosted its stake in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock worth $38,000 after acquiring an additional 3,225 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor during the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in Amcor in the fourth quarter valued at approximately $60,000. 45.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AMCR. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial raised shares of Amcor from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.46.

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Insider Buying and Selling

In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

Amcor Stock Down 3.7 %

Shares of NYSE AMCR traded down $0.36 during trading hours on Friday, hitting $9.22. The company had a trading volume of 48,492,246 shares, compared to its average volume of 13,592,388. Amcor plc has a 1-year low of $8.80 and a 1-year 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. The firm's 50 day moving average is $9.91 and its 200-day moving average is $10.19. The stock has a market capitalization of $13.32 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

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 analysts' consensus estimates of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is presently 92.73%.

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.