Nomura Asset Management Co. Ltd. Boosts Stake in Amcor plc (NYSE:AMCR)

Nomura Asset Management Co. Ltd. increased its stake in Amcor plc (NYSE:AMCR - Free Report) by 0.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,948,702 shares of the company's stock after buying an additional 29,635 shares during the period. Nomura Asset Management Co. Ltd. owned 0.27% of Amcor worth $37,157,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock worth $555,064,000 after buying an additional 1,249,868 shares in the last quarter. Barclays PLC lifted its position in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. boosted its stake in Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company's stock valued at $8,162,000 after purchasing an additional 203,166 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company's stock worth $2,464,000 after purchasing an additional 95,805 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Amcor in the third quarter worth $5,919,000. Institutional investors own 45.14% of the company's stock.

Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.13 during midday trading on Wednesday, hitting $9.69. The company had a trading volume of 16,466,583 shares, compared to its average volume of 22,696,328. The company has a fifty day moving average of $9.93 and a two-hundred day moving average of $10.21. Amcor plc has a 12-month low of $8.80 and a 12-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. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.96 and a beta of 0.80.

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Amcor (NYSE:AMCR - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion for 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 firm's revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. On average, equities research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.27%. Amcor's dividend payout ratio is presently 92.73%.

Analyst Ratings Changes

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

Insider Buying and Selling at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company's stock.

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.