Mitsubishi UFJ Trust & Banking Corp Has $9.50 Million Stake in Amcor plc (NYSE:AMCR)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Amcor plc (NYSE:AMCR) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,009,679 shares of the company’s stock after selling 88,683 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Amcor worth $9,501,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Larson Financial Group LLC boosted its position in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the period. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Amcor during the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new position in Amcor in the 4th quarter worth about $60,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Down 0.8 %

NYSE AMCR opened at $9.64 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $9.93 and its two-hundred day simple moving average is $10.24. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. Research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.29%. Amcor’s payout ratio is 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

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