Rhumbline Advisers Has $23.92 Million Stake in Amcor plc (NYSE:AMCR)

Rhumbline Advisers decreased its holdings in Amcor plc (NYSE:AMCR - Free Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,541,565 shares of the company's stock after selling 29,284 shares during the quarter. Rhumbline Advisers owned about 0.18% of Amcor worth $23,916,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company's stock worth $74,931,000 after acquiring an additional 4,851,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Amcor by 39,411.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company's stock valued at $31,855,000 after purchasing an additional 2,804,484 shares during the last quarter. M&G PLC grew its holdings in Amcor by 5.9% in the third quarter. M&G PLC now owns 49,940,152 shares of the company's stock valued at $549,342,000 after purchasing an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Amcor by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company's stock valued at $489,348,000 after acquiring an additional 1,960,308 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Amcor by 94.8% during the third quarter. KBC Group NV now owns 2,940,184 shares of the company's stock valued at $33,312,000 after acquiring an additional 1,430,545 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Amcor Price Performance

Shares of AMCR traded down $0.16 during midday trading on Friday, reaching $10.24. The stock had a trading volume of 21,710,048 shares, compared to its average volume of 19,674,560. Amcor plc has a 52 week low of $8.80 and a 52 week 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 firm's 50 day moving average price is $9.72 and its 200-day moving average price is $10.42. The company has a market capitalization of $14.79 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.99 and a beta of 0.84.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. Amcor's revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be given a $0.1275 dividend. This represents a $0.51 annualized dividend and a yield of 4.98%. The ex-dividend date is Wednesday, February 26th. Amcor's payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

AMCR has been the topic of a number of analyst reports. 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. Macquarie raised Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. UBS Group raised Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Truist Financial upgraded Amcor from a "hold" rating to a "buy" rating and raised their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amcor presently has an average rating of "Moderate Buy" and a consensus price target of $11.46.

Amcor Company 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.