Intech Investment Management LLC Boosts Stake in Amcor plc (NYSE:AMCR)

Intech Investment Management LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 507.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 521,322 shares of the company’s stock after purchasing an additional 435,489 shares during the quarter. Intech Investment Management LLC’s holdings in Amcor were worth $4,906,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMCR. GSA Capital Partners LLP raised its holdings in Amcor by 51.9% during the third quarter. GSA Capital Partners LLP now owns 34,190 shares of the company’s stock worth $387,000 after purchasing an additional 11,685 shares during the last quarter. Empowered Funds LLC raised its holdings in Amcor by 6.0% during the third quarter. Empowered Funds LLC now owns 133,379 shares of the company’s stock worth $1,511,000 after purchasing an additional 7,507 shares during the last quarter. Natixis Advisors LLC raised its holdings in Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after purchasing an additional 124,945 shares during the last quarter. Claro Advisors LLC acquired a new position in Amcor during the third quarter worth $152,000. Finally, Thrivent Financial for Lutherans raised its holdings in Amcor by 1.9% during the third quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock worth $1,850,000 after purchasing an additional 3,019 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, with a total value 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. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Amcor Stock Performance

Amcor stock opened at $9.91 on Wednesday. The firm has a market capitalization of $14.32 billion, a P/E ratio of 18.01, a PEG ratio of 1.96 and a beta of 0.80. The stock has a fifty day moving average price of $9.92 and a 200 day moving average price of $10.32. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. 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 (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analysts Set New Price Targets

AMCR has been the subject of several research reports. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.