Orion Portfolio Solutions LLC Sells 5,879 Shares of Amcor plc (NYSE:AMCR)

Orion Portfolio Solutions LLC decreased its position in shares of Amcor plc (NYSE:AMCR) by 8.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 61,154 shares of the company’s stock after selling 5,879 shares during the period. Orion Portfolio Solutions LLC’s holdings in Amcor were worth $693,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI increased its stake in shares of Amcor by 85.9% in the 3rd quarter. National Bank of Canada FI now owns 738,733 shares of the company’s stock worth $8,370,000 after acquiring an additional 341,270 shares in the last quarter. iA Global Asset Management Inc. bought a new position in shares of Amcor during the third quarter valued at approximately $364,000. EP Wealth Advisors LLC purchased a new position in shares of Amcor during the third quarter valued at approximately $636,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Amcor during the third quarter valued at approximately $232,000. Finally, Quantinno Capital Management LP grew its stake in shares of Amcor by 9.2% in the 3rd quarter. Quantinno Capital Management LP now owns 444,920 shares of the company’s stock worth $5,041,000 after buying an additional 37,340 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMCR shares. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup lifted their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price target on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.20.

Amcor Stock Performance

Shares of AMCR stock opened at $9.86 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average price of $10.57 and a 200-day moving average price of $10.53. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The firm has a market capitalization of $14.24 billion, a PE ratio of 18.59, a P/E/G ratio of 1.80 and a beta of 0.82.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.18%. Amcor’s dividend payout ratio is currently 96.23%.

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.