Edgestream Partners L.P. Makes New $5.39 Million Investment in Amcor plc (NYSE:AMCR)

Edgestream Partners L.P. acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 573,132 shares of the company’s stock, valued at approximately $5,393,000.

Several other hedge funds also recently made changes to their positions in AMCR. Private Advisor Group LLC bought a new stake in Amcor during the third quarter worth approximately $139,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Amcor by 28.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 490,628 shares of the company’s stock worth $5,559,000 after acquiring an additional 108,851 shares in the last quarter. National Pension Service grew its holdings in shares of Amcor by 18.5% in the 3rd quarter. National Pension Service now owns 2,834,506 shares of the company’s stock worth $32,115,000 after acquiring an additional 442,129 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Amcor by 5.7% during the third quarter. Principal Financial Group Inc. now owns 1,969,613 shares of the company’s stock worth $22,316,000 after purchasing an additional 105,457 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Amcor during the third quarter valued at $97,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 1.7 %

Amcor stock opened at $10.29 on Friday. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm has a market cap of $14.87 billion, a PE ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 0.80. The firm’s 50 day moving average price is $9.85 and its two-hundred day moving average price is $10.39.

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

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. The ex-dividend date is Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 4.96%. Amcor’s dividend payout ratio is 92.73%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMCR. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

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.