Amcor plc (NYSE:AMCR) Director Buys $101,000.00 in Stock

Amcor plc (NYSE:AMCR) Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Amcor Stock Up 1.0 %

Shares of NYSE AMCR opened at $10.06 on Thursday. Amcor plc has a 12-month low of $8.80 and a 12-month high of $11.48. The company has a market cap of $14.55 billion, a P/E ratio of 18.30, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average price of $9.82 and a 200 day moving average price of $10.39.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion during 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%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Research analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.07%. Amcor’s dividend payout ratio is presently 92.73%.

Institutional Trading of Amcor

Several large investors have recently modified their holdings of the business. Menard Financial Group LLC acquired a new stake in shares of Amcor during the fourth quarter valued at about $46,000. Jefferies Financial Group Inc. bought a new position in shares of Amcor during the fourth quarter worth about $663,000. Virtue Capital Management LLC lifted its position in shares of Amcor by 2.8% during the fourth quarter. Virtue Capital Management LLC now owns 45,924 shares of the company’s stock worth $432,000 after purchasing an additional 1,259 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Amcor by 288.1% during the fourth quarter. Forum Financial Management LP now owns 57,285 shares of the company’s stock worth $539,000 after purchasing an additional 42,524 shares during the last quarter. Finally, North Star Asset Management Inc. lifted its position in shares of Amcor by 53.6% during the fourth quarter. North Star Asset Management Inc. now owns 168,801 shares of the company’s stock worth $1,588,000 after purchasing an additional 58,890 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AMCR shares. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amcor presently has an average rating of “Moderate Buy” and a consensus target price 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.