Amcor plc (NYSE:AMCR) Position Increased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its stake in Amcor plc (NYSE:AMCR) by 5.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 156,111 shares of the company’s stock after acquiring an additional 8,078 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Amcor were worth $1,469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the last quarter. Rise Advisors LLC acquired a new position in Amcor during the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor in the third quarter valued at about $35,000. True Wealth Design LLC lifted its position in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Amcor by 296.3% during the third quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock worth $49,000 after buying an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

NYSE:AMCR opened at $9.71 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 fifty-two week low of $8.78 and a fifty-two week high of $11.48. The company has a market cap of $14.03 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.69 and a beta of 0.84. The stock has a fifty day moving average price of $9.89 and a 200-day moving average price of $10.44.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. As a group, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.1275 per share. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date was Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

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.