Tocqueville Asset Management L.P. Trims Stock Position in Amcor plc (NYSE:AMCR)

Tocqueville Asset Management L.P. trimmed its stake in Amcor plc (NYSE:AMCR - Free Report) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,025 shares of the company's stock after selling 179,164 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Amcor were worth $3,209,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC grew its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company's stock worth $27,000 after purchasing an additional 2,319 shares during the period. True Wealth Design LLC lifted its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after buying an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor in the fourth quarter valued at $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor in the fourth quarter valued at $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on AMCR shares. Bank of America raised shares of 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. UBS Group raised shares of Amcor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 11th. Macquarie raised shares of Amcor from a "neutral" rating to an "outperform" rating in a research note on Wednesday, November 27th. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and raised their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.46.

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Amcor Stock Performance

NYSE AMCR traded down $0.29 during trading hours on Friday, reaching $9.44. 61,912,768 shares of the company were exchanged, compared to its average volume of 12,231,175. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The business's 50 day simple moving average is $9.93 and its 200-day simple moving average is $10.30. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $13.64 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data 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 net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company posted $0.09 earnings per share. The firm's quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 5.41%. Amcor's dividend payout ratio (DPR) is presently 92.73%.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.