Tokio Marine Asset Management Co. Ltd. Boosts Holdings in Amcor plc (NYSE:AMCR)

Tokio Marine Asset Management Co. Ltd. raised its position in Amcor plc (NYSE:AMCR) by 30.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 34,759 shares of the company’s stock after acquiring an additional 8,078 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Amcor were worth $394,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AMCR. Metis Global Partners LLC increased its stake in shares of Amcor by 21.9% during the third quarter. Metis Global Partners LLC now owns 131,308 shares of the company’s stock worth $1,488,000 after acquiring an additional 23,620 shares during the period. KBC Group NV boosted its holdings in Amcor by 94.8% in the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock valued at $33,312,000 after purchasing an additional 1,430,545 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the period. GSA Capital Partners LLP raised its stake in shares of Amcor by 51.9% during the 3rd quarter. GSA Capital Partners LLP now owns 34,190 shares of the company’s stock worth $387,000 after buying an additional 11,685 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Amcor in the 3rd quarter valued at approximately $345,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $10.22 on Friday. The firm has a market capitalization of $14.77 billion, a PE ratio of 19.28, a P/E/G ratio of 1.82 and a beta of 0.85. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The business has a 50-day moving average of $10.92 and a two-hundred day moving average of $10.50.

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

Amcor Increases Dividend

The company 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 dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.99%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is presently 94.34%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup raised their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird lifted their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of “Hold” and a consensus price target of $10.94.

About Amcor

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.