Crossmark Global Holdings Inc. Purchases 91,321 Shares of Amcor plc (NYSE:AMCR)

Crossmark Global Holdings Inc. raised its position in Amcor plc (NYSE:AMCR) by 77.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,758 shares of the company’s stock after buying an additional 91,321 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Amcor were worth $2,365,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMCR. Empowered Funds LLC grew its position in Amcor by 244.2% during the first quarter. Empowered Funds LLC now owns 103,655 shares of the company’s stock worth $986,000 after buying an additional 73,541 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Amcor during the first quarter worth about $186,000. Bleakley Financial Group LLC boosted its holdings in shares of Amcor by 7.5% in the 1st quarter. Bleakley Financial Group LLC now owns 59,022 shares of the company’s stock worth $561,000 after purchasing an additional 4,126 shares in the last quarter. Patton Fund Management Inc. boosted its holdings in shares of Amcor by 11.2% in the 1st quarter. Patton Fund Management Inc. now owns 15,619 shares of the company’s stock worth $149,000 after purchasing an additional 1,579 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Amcor by 1.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,606,539 shares of the company’s stock worth $15,278,000 after purchasing an additional 22,154 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Down 1.2 %

NYSE AMCR opened at $10.19 on Wednesday. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average of $11.01 and a 200-day moving average of $10.47. The firm has a market cap of $14.73 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. Amcor’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 EPS. As a group, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.00%. Amcor’s dividend payout ratio is presently 94.34%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.94.

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.