Nomura Asset Management Co. Ltd. Increases Stock Position in Amcor plc (NYSE:AMCR)

Nomura Asset Management Co. Ltd. increased its position in shares of Amcor plc (NYSE:AMCR) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.’s holdings in Amcor were worth $37,157,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Amcor by 275.3% in the 3rd 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 purchasing an additional 2,862,471 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Amcor in the fourth quarter worth $23,810,000. Vanguard Group Inc. grew its stake in Amcor by 2.2% in the 4th 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. Finally, Barclays PLC increased its position in shares of Amcor by 31.8% during the 3rd 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. 45.14% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.64 on Friday. The stock has a fifty day moving average of $9.93 and a 200-day moving average of $10.24. The stock 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. 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 plc has a fifty-two week low of $8.80 and a fifty-two week 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 for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share 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. This represents a $0.51 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Insider Activity

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

Analysts Set New Price Targets

Several research firms recently weighed in on AMCR. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.