Quantbot Technologies LP Makes New $8.79 Million Investment in Amcor plc (NYSE:AMCR)

Quantbot Technologies LP purchased a new stake in shares of Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 933,839 shares of the company's stock, valued at approximately $8,787,000. Quantbot Technologies LP owned approximately 0.06% of Amcor as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC boosted its holdings in Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock worth $215,000 after acquiring an additional 1,085 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock worth $304,000 after acquiring an additional 1,213 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in Amcor by 11.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock worth $131,000 after acquiring an additional 1,409 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Amcor by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock worth $1,842,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Amcor by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company's stock worth $4,161,000 after acquiring an additional 1,761 shares in the last quarter. 45.14% of the stock is owned by institutional investors.

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Amcor Stock Performance

Amcor stock traded up $0.07 during mid-day trading on Tuesday, reaching $9.91. 25,436,576 shares of the stock traded hands, compared to its average volume of 11,872,133. The stock has a market capitalization of $14.32 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. The business's 50-day moving average is $9.91 and its 200-day moving average is $10.33.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. As a group, sell-side analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is presently 92.73%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMCR shares. Bank of America raised Amcor from an "underperform" rating to a "buy" rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.46.

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was acquired 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 $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

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.