Intech Investment Management LLC Raises Position in Amcor plc (NYSE:AMCR)

Intech Investment Management LLC lifted its stake in Amcor plc (NYSE:AMCR) by 507.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 521,322 shares of the company’s stock after acquiring 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 SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares during the period. Geode Capital Management LLC boosted its position in shares of Amcor by 2.0% in the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after buying an additional 697,320 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after buying an additional 4,851,222 shares during the period. Vest Financial LLC boosted its holdings in Amcor by 7.3% in the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock valued at $48,248,000 after purchasing an additional 348,026 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of analyst reports. 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. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.46.

Amcor Trading Up 0.7 %

Shares of NYSE AMCR opened at $9.91 on Wednesday. The stock’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $10.32. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The stock 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 company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. On average, analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

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.