Intech Investment Management LLC Cuts Stock Position in Amcor plc (NYSE:AMCR)

Intech Investment Management LLC cut its holdings in shares of Amcor plc (NYSE:AMCR) by 51.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,833 shares of the company’s stock after selling 90,020 shares during the period. Intech Investment Management LLC’s holdings in Amcor were worth $972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rise Advisors LLC purchased a new stake in Amcor during the third quarter worth about $35,000. ORG Wealth Partners LLC purchased a new stake in shares of Amcor during the third quarter worth approximately $35,000. Quent Capital LLC increased its stake in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after buying an additional 1,241 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the period. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMCR has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Citigroup upped their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.94.

Amcor Price Performance

AMCR stock opened at $10.50 on Thursday. The company has a market capitalization of $15.17 billion, a P/E ratio of 19.80, a PEG ratio of 1.89 and a beta of 0.85. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The business has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $10.51. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80.

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

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is presently 96.23%.

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.