Amcor plc (NYSE:AMCR) Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 51.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 34,190 shares of the company’s stock after buying an additional 11,685 shares during the period. GSA Capital Partners LLP’s holdings in Amcor were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC boosted its position in shares of Amcor by 8.4% in the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after buying an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock worth $132,000 after acquiring an additional 1,023 shares during the period. Forum Financial Management LP grew its position in Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after acquiring an additional 1,058 shares in the last quarter. Quent Capital LLC lifted its position in shares of Amcor by 51.8% during the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in shares of Amcor by 5.3% during the second quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock worth $250,000 after purchasing an additional 1,298 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR stock opened at $10.47 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The company’s 50-day simple moving average is $10.86 and its 200-day simple moving average is $10.50. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.78 and a beta of 0.85.

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, hitting the consensus estimate of $0.16. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Equities analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.87%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s payout ratio is 94.34%.

Analyst Ratings Changes

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