Amcor plc (NYSE:AMCR) Shares Acquired by Argyle Capital Management LLC

Argyle Capital Management LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,630 shares of the company’s stock after acquiring an additional 3,666 shares during the quarter. Argyle Capital Management LLC’s holdings in Amcor were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its position 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 acquiring an additional 2,319 shares during the period. True Wealth Design LLC grew its holdings in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Covestor Ltd increased its position in shares of Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after purchasing an additional 6,491 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Amcor during the 3rd quarter worth about $97,000. Finally, Graypoint LLC purchased a new stake in Amcor in the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.3 %

Amcor stock opened at $10.06 on Friday. The firm has a market capitalization of $14.53 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.96 and a beta of 0.84. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The stock’s fifty day simple moving average is $9.77 and its 200-day simple moving average is $10.41.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion for 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 revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, equities analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a yield of 5.07%. Amcor’s dividend payout ratio is currently 92.73%.

Analyst Upgrades and Downgrades

AMCR has been the subject of several research analyst reports. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and a consensus price target 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.