Amcor plc (NYSE:AMCR) Director Achal Agarwal Purchases 10,000 Shares

Amcor plc (NYSE:AMCR) Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Amcor Stock Up 0.0 %

Shares of Amcor stock traded up $0.01 during trading on Monday, hitting $10.13. 22,068,917 shares of the stock traded hands, compared to its average volume of 19,981,838. The company has a fifty day moving average price of $9.78 and a two-hundred day moving average price of $10.40. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The stock has a market cap of $14.63 billion, a P/E ratio of 18.41, a PEG ratio of 1.96 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Equities research analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.04%. Amcor’s payout ratio is 92.73%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Barclays PLC increased its stake in Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares during the period. Franklin Resources Inc. grew its holdings in shares of Amcor by 39.3% during the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock worth $8,162,000 after purchasing an additional 203,166 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares during the period. Cerity Partners LLC raised its stake in shares of Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Amcor in the third quarter worth $5,919,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Amcor Company 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.