Nomura Asset Management Co. Ltd. Acquires 29,635 Shares of Amcor plc (NYSE:AMCR)

Nomura Asset Management Co. Ltd. raised its holdings in Amcor plc (NYSE:AMCR) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,948,702 shares of the company’s stock after purchasing an additional 29,635 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.27% of Amcor worth $37,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after buying an additional 2,660 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Amcor during the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in Amcor in the 4th quarter worth about $60,000. Institutional investors own 45.14% of the company’s stock.

Insider Activity

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Amcor Price Performance

Shares of AMCR opened at $9.64 on Friday. The firm has a market cap of $13.93 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The business’s 50 day moving average price is $9.93 and its two-hundred day moving average price is $10.24. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. Amcor’s revenue was down .3% on a year-over-year basis. On average, equities analysts anticipate that Amcor plc will post 0.74 EPS 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 issued a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.29%. Amcor’s payout ratio is currently 92.73%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Company 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.