Amcor Sees Unusually High Options Volume (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the recipient of unusually large options trading on Friday. Traders acquired 15,246 call options on the stock. This represents an increase of 991% compared to the typical volume of 1,397 call options.

Insider Buying and Selling

In other news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Amcor

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Barclays PLC raised its position in Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Franklin Resources Inc. raised its stake in Amcor by 39.3% in the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after acquiring an additional 203,166 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Amcor during the third quarter worth $5,919,000. Finally, Van ECK Associates Corp acquired a new stake in Amcor during the fourth quarter worth approximately $2,605,000. 45.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Stock Performance

Shares of NYSE:AMCR traded up $0.20 during trading on Friday, hitting $9.22. 35,745,282 shares of the stock were exchanged, compared to its average volume of 25,518,094. The company’s fifty day simple moving average is $9.81 and its 200-day simple moving average is $10.10. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. Amcor has a 1-year low of $8.37 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts expect that Amcor will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio is 92.73%.

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.