Public Employees Retirement System of Ohio Makes New $5.92 Million Investment in Amcor plc (NYSE:AMCR)

Public Employees Retirement System of Ohio bought a new stake in shares of Amcor plc (NYSE:AMCR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 522,398 shares of the company's stock, valued at approximately $5,919,000.

Several other large investors also recently modified their holdings of the business. National Bank of Canada FI grew its stake in Amcor by 85.9% in the third quarter. National Bank of Canada FI now owns 738,733 shares of the company's stock worth $8,370,000 after purchasing an additional 341,270 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in Amcor in the third quarter worth about $364,000. EP Wealth Advisors LLC acquired a new position in Amcor in the third quarter worth about $636,000. Kovitz Investment Group Partners LLC acquired a new position in Amcor in the third quarter worth about $232,000. Finally, Quantinno Capital Management LP grew its stake in Amcor by 9.2% in the third quarter. Quantinno Capital Management LP now owns 444,920 shares of the company's stock worth $5,041,000 after purchasing an additional 37,340 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR traded down $0.09 during mid-day trading on Friday, reaching $9.90. 10,312,756 shares of the company's stock traded hands, compared to its average volume of 9,630,000. The business's 50-day moving average price is $10.60 and its 200-day moving average price is $10.52. The stock has a market capitalization of $14.31 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.16 earnings per share. The business's revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a $0.1275 dividend. This is a positive change from Amcor's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.15%. Amcor's payout ratio is 96.23%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Citigroup raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an "equal weight" rating in a report on Tuesday, October 15th. Robert W. Baird raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Friday, August 16th. Finally, Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.20.

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.