Metis Global Partners LLC Has $1.49 Million Holdings in Amcor plc (NYSE:AMCR)

Metis Global Partners LLC lifted its position in shares of Amcor plc (NYSE:AMCR) by 21.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,308 shares of the company’s stock after purchasing an additional 23,620 shares during the quarter. Metis Global Partners LLC’s holdings in Amcor were worth $1,488,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of Amcor in the third quarter valued at $35,000. ORG Wealth Partners LLC bought a new position in Amcor in the 3rd quarter valued at about $35,000. Quent Capital LLC boosted its stake in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after purchasing an additional 2,519 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after purchasing an additional 1,299 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMCR shares. JPMorgan Chase & Co. upped their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report 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. Wells Fargo & Company boosted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Up 0.4 %

Shares of NYSE:AMCR opened at $10.22 on Friday. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a market capitalization of $14.77 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85. The business has a fifty day moving average price of $10.92 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is 94.34%.

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.