Nordea Investment Management AB bought a new position in Amcor plc (NYSE: AMCR – Get Rating) in the first quarter, according to its latest form 13F, submitted to the Securities and Exchange Commission (SEC). The institutional investor purchased 823,034 shares of the company’s shares worth approximately $ 9,477,000.
Several other large investors have also made changes to their positions in AMCR. Renaissance Technologies LLC bought a new position in shares of Amcor in the fourth quarter worth $ 43,602,000. Capricorn Fund Managers Ltd bought a new position in Amcor shares in the fourth quarter worth $ 14,538,000. Charles Schwab Investment Management Inc. increased its stake in Amcor by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,402,955 shares of the company’s stock worth $ 269,060,000 after buying an additional 810,866 shares in the last quarter. BlackRock Inc. increased its stake in Amcor by 0.8% in the fourth quarter. BlackRock Inc. already owns 101,926,773 shares of the company’s stock worth $ 1,224,142,000 after purchasing an additional 774,065 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in Amcor shares in the fourth quarter worth $ 8,327,000. 43.56% of the shares are currently owned by hedge funds and other institutional investors.
A number of research analysts have recently released reports on AMCR shares. Truist Financial began covering Amcor in a report on Friday, March 25th. They set a “hold” rating and a target price of $ 12.00 per share. TheStreet raised Amcor’s rating from “c” to “b” in a report on Friday, May 13. Finally, Bank of America downgraded Amcor’s rating from a “buy” rating to a “lower performance” rating and lowered its target price for the company from $ 13.40 to $ 12.30 in a report on Friday, March 25. Three stock research analysts rated the shares with a rating for sale, one gave a rating for retention and one gave a rating for the purchase of shares. Based on MarketBeat data, Amcor has an average Hold rating and a consensus target price of $ 12.70.
In related news, EVP Ian Wilson sold 54,060 shares of Amcor in a deal on Friday, May 6th. The shares were sold at an average price of $ 12.64, for a total transaction of $ 683,318.40. Following the sale, the executive vice president now owns 150,138 shares of the company’s stock worth approximately $ 1,897,744.32. The sale was revealed in documentation at the Securities and Exchange Commission, which can be accessed through the SEC website. Also, Vice President Julie Marie Sorels sold 17,283 shares of Amcor shares in a deal made on Friday, May 6. The shares were sold at an average price of $ 12.55, for a total value of $ 216,901.65. Following the sale, the vice president now directly owns 20,733 shares of the company worth approximately $ 260,199.15. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 951,350 shares of the company worth $ 12,057,859. Corporate insiders own 0.28% of the company’s shares.
Shares of AMCR opened at $ 12.41 on Friday. Amcor plc has a fifty-two weekly low of $ 10.66 and a fifty-two week high of $ 13.60. The 50-day moving average for the business is $ 12.52, and its two-day moving average is $ 11.98. The company has a debt-to-equity ratio of 1.57, a fast ratio of 0.85 and a current ratio of 1.39. The company has a market capitalization of $ 18.65 billion, a price / profit ratio of 20.02, a P / E / G ratio of 1.49 and a beta ratio of 0.77.
Amcor (NYSE: AMCR – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $ 0.21 EPS for the quarter, beating the consensus estimate of $ 0.20 by $ 0.01. Amcor had a return on equity of 26.05% and a net profit of 6.75%. The company had revenue of $ 3.71 billion for the quarter, compared to the consensus estimate of $ 3.40 billion. In the same quarter last year, the company earned $ 0.17 earnings per share. Business revenues for the quarter increased by 15.6% compared to the same quarter last year. Share analysts predict that Amcor plc will report 0.81 earnings per share for the current year.
The business also recently unveiled a three-month dividend that was paid on Tuesday (June 14th). The record shareholders on Wednesday, May 25, received a dividend of $ 0.12. This represents a $ 0.48 annual dividend and a dividend yield of 3.87%. The date of the former dividend was Tuesday, May 24. Amcor’s current dividend payout ratio (DPR) is currently 77.42%.
Amcor profile (Get a rating)
Amcor plc develops, manufactures and sells packaging products in Europe, North America, Latin America, Africa and the Asia-Pacific region. The company operates in two segments, flexible and rigid packaging. The Flexibles segment offers flexible and film packaging products in the food and beverage, medicine and pharmaceuticals, fresh products, snacks, personal care and other industries.
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