32,126 Shares in Amcor plc (NYSE:AMCR) Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. bought a new stake in shares of Amcor plc (NYSE:AMCR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 32,126 shares of the company’s stock, valued at approximately $364,000.

Several other hedge funds have also made changes to their positions in AMCR. EP Wealth Advisors LLC bought a new stake in shares of Amcor in the third quarter valued at about $636,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Amcor in the 3rd quarter valued at about $232,000. Quantinno Capital Management LP lifted its position in shares of Amcor by 9.2% in the 3rd quarter. Quantinno Capital Management LP now owns 444,920 shares of the company’s stock worth $5,041,000 after purchasing an additional 37,340 shares during the period. IHT Wealth Management LLC boosted its stake in shares of Amcor by 7.1% during the third quarter. IHT Wealth Management LLC now owns 27,597 shares of the company’s stock valued at $313,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in shares of Amcor by 105.7% during the third quarter. Hilltop Holdings Inc. now owns 41,088 shares of the company’s stock valued at $466,000 after purchasing an additional 21,117 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Up 0.2 %

AMCR stock opened at $10.20 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The stock has a market capitalization of $14.74 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.83 and a beta of 0.82. The firm has a 50 day moving average of $10.69 and a 200 day moving average of $10.52.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a yield of 5.00%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 96.23%.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of analyst reports. Robert W. Baird upped their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Citigroup increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Four 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 has an average rating of “Hold” and a consensus 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.