Twin Tree Management LP Buys Shares of 210,367 Amcor plc (NYSE:AMCR)

Twin Tree Management LP bought a new stake in Amcor plc (NYSE:AMCR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 210,367 shares of the company's stock, valued at approximately $1,980,000.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock worth $433,358,000 after buying an additional 2,862,471 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company's stock worth $410,144,000 after acquiring an additional 697,320 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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. Vest Financial LLC boosted its holdings in Amcor by 7.3% in the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company's stock valued at $48,248,000 after purchasing an additional 348,026 shares during the last quarter. Finally, Barclays PLC grew its stake in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company's stock valued at $51,484,000 after purchasing an additional 1,096,664 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

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Amcor Stock Performance

AMCR traded down $0.29 on Friday, hitting $9.44. 61,912,768 shares of the company's stock were exchanged, compared to its average volume of 12,231,175. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $9.93 and a two-hundred day moving average of $10.30. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The firm has a market cap of $13.64 billion, a PE 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 announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share 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 business had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. During the same period in the prior year, the firm earned $0.09 EPS. The business's quarterly revenue was down .3% on a year-over-year basis. On average, research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio (DPR) is 92.73%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

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.