Elo Mutual Pension Insurance Co Lowers Holdings in Amcor plc (NYSE:AMCR)

Elo Mutual Pension Insurance Co reduced its holdings in shares of Amcor plc (NYSE:AMCR) by 1.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 154,664 shares of the company’s stock after selling 2,360 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Amcor were worth $1,455,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. Jones Financial Companies Lllp increased its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after purchasing an additional 2,660 shares during the period. True Wealth Design LLC raised its position in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Amcor in the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Amcor during the fourth quarter worth about $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Amcor Stock Down 0.8 %

AMCR opened at $9.64 on Friday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The stock has a market capitalization of $13.93 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The business’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.24.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of recent research reports. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Truist Financial raised 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 report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Citigroup upgraded 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. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus 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.