Cerity Partners LLC Has $2.46 Million Stock Holdings in Amcor plc (NYSE:AMCR)

Cerity Partners LLC boosted its stake in Amcor plc (NYSE:AMCR) by 78.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,498 shares of the company’s stock after buying an additional 95,805 shares during the quarter. Cerity Partners LLC’s holdings in Amcor were worth $2,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCR. Rise Advisors LLC bought a new stake in shares of Amcor during the third quarter worth $35,000. ORG Wealth Partners LLC bought a new stake in Amcor during the 3rd quarter worth about $35,000. Quent Capital LLC lifted its position in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the period. EverSource Wealth Advisors LLC lifted its position in Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after purchasing an additional 2,519 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMCR. Wells Fargo & Company increased their price objective 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. JPMorgan Chase & Co. raised their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Citigroup upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird upped their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Amcor currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Up 1.3 %

AMCR opened at $10.64 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. The stock has a fifty day moving average of $10.80 and a 200-day moving average of $10.51. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a market capitalization of $15.38 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.92 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for 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 business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. On average, equities analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.79%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s payout ratio is presently 96.23%.

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.