Eliot Finkel Investment Counsel LLC Acquires New Shares in Amcor plc (NYSE:AMCR)

Eliot Finkel Investment Counsel LLC acquired a new stake in Amcor plc (NYSE:AMCR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 100,130 shares of the company's stock, valued at approximately $1,134,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company's stock valued at $539,686,000 after purchasing an additional 1,170,986 shares during the last quarter. M&G Plc lifted its stake in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company's stock worth $471,644,000 after buying an additional 45,504,608 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Amcor by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company's stock worth $195,946,000 after buying an additional 2,086,698 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Amcor by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company's stock worth $194,783,000 after buying an additional 1,443,364 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company's stock valued at $143,989,000 after buying an additional 1,527,492 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

AMCR stock traded down $0.01 during mid-day trading on Friday, hitting $11.24. The stock had a trading volume of 8,908,812 shares, compared to its average volume of 8,895,103. The firm has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $10.28. Amcor plc has a 52 week low of $8.45 and a 52 week high of $11.48. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $16.25 billion, a P/E ratio of 24.98, a P/E/G ratio of 2.72 and a beta of 0.85.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The company's revenue was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Friday, September 6th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Friday, September 6th. Amcor's dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMCR shares. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the stock an "overweight" rating in a report on Tuesday, August 13th. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the company an "equal weight" rating in a report on Tuesday. Robert W. Baird lifted their target price on Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. Finally, Stifel Nicolaus assumed coverage on shares of Amcor in a research report on Tuesday, July 9th. They issued a "hold" rating and a $10.80 target price for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.78.

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.