M&T Bank Corp Sells 48,595 Shares of Amcor plc (NYSE:AMCR)

M&T Bank Corp reduced its stake in Amcor plc (NYSE:AMCR) by 18.4% during the 4th quarter, Holdings Channel reports. The firm owned 215,352 shares of the company’s stock after selling 48,595 shares during the period. M&T Bank Corp’s holdings in Amcor were worth $2,027,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $433,358,000 after buying an additional 2,862,471 shares during the period. Geode Capital Management LLC increased its stake in shares of Amcor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock valued at $410,144,000 after acquiring an additional 697,320 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $74,931,000 after acquiring an additional 4,851,222 shares during the period. Vest Financial LLC boosted its stake in Amcor by 7.3% during the 4th quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock worth $48,248,000 after acquiring an additional 348,026 shares during the last quarter. Finally, Barclays PLC boosted its stake in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after acquiring an additional 1,096,664 shares during the last quarter. 45.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Amcor Stock Performance

AMCR opened at $10.29 on Monday. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 0.80. The business’s 50-day moving average price is $9.85 and its two-hundred day moving average price is $10.38. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. Equities analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.96%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor 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.