Van ECK Associates Corp Purchases Shares of 276,849 Amcor plc (NYSE:AMCR)

Van ECK Associates Corp purchased a new stake in shares of Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 276,849 shares of the company's stock, valued at approximately $2,605,000.

Several other large investors have also made changes to their positions in the company. Lake Street Advisors Group LLC lifted its stake in shares of Amcor by 8.4% during the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company's stock valued at $138,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Amcor by 9.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company's stock valued at $132,000 after buying an additional 1,023 shares during the period. Forum Financial Management LP lifted its stake in Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company's stock valued at $167,000 after buying an additional 1,058 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in Amcor by 6.1% in the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company's stock valued at $215,000 after buying an additional 1,085 shares during the period. Finally, CWA Asset Management Group LLC lifted its stake in Amcor by 3.9% in the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after buying an additional 1,213 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Down 1.5 %

Shares of NYSE:AMCR traded down $0.16 during mid-day trading on Friday, reaching $10.24. 21,710,048 shares of the stock were exchanged, compared to its average volume of 18,910,525. 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 company has a market cap of $14.79 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.95 and a beta of 0.84. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The stock's 50 day simple moving average is $9.72 and its 200-day simple moving average is $10.42.

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. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. As a group, equities research analysts predict that Amcor plc will post 0.74 EPS for the current 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 issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.98%. Amcor's payout ratio is presently 92.73%.

Analyst Upgrades and Downgrades

AMCR has been the topic of several analyst reports. Citigroup raised Amcor from a "neutral" rating to a "buy" rating and increased their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. 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 note on Wednesday, December 11th. 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 raised Amcor from a "hold" rating to a "buy" rating and raised their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.46.

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.