Mitsubishi UFJ Trust & Banking Corp Sells 88,683 Shares of Amcor plc (NYSE:AMCR)

Mitsubishi UFJ Trust & Banking Corp decreased its position in Amcor plc (NYSE:AMCR) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,009,679 shares of the company’s stock after selling 88,683 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Amcor were worth $9,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC increased its holdings in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after purchasing an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after buying an additional 1,409 shares during the period. New York Life Investment Management LLC raised its holdings in shares of Amcor by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock valued at $1,842,000 after acquiring an additional 1,507 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Amcor by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company’s stock valued at $4,161,000 after acquiring an additional 1,761 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its stake in Amcor by 7.1% in the third quarter. IHT Wealth Management LLC now owns 27,597 shares of the company’s stock worth $313,000 after acquiring an additional 1,831 shares during the period. 45.14% of the stock is owned by institutional investors.

Amcor Stock Performance

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

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

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

Insiders Place Their Bets

In other news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AMCR. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

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.