OLD Mission Capital LLC Purchases 797,367 Shares of Amcor plc (NYSE:AMCR)

OLD Mission Capital LLC raised its holdings in shares of Amcor plc (NYSE:AMCR) by 1,011.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 876,214 shares of the company’s stock after purchasing an additional 797,367 shares during the quarter. OLD Mission Capital LLC owned approximately 0.06% of Amcor worth $8,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cerity Partners LLC boosted its position 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 acquiring an additional 95,805 shares during the period. FMR LLC increased its holdings in shares of Amcor by 5.6% during the third quarter. FMR LLC now owns 2,389,346 shares of the company’s stock worth $27,071,000 after purchasing an additional 126,844 shares during the period. Townsquare Capital LLC raised its position in shares of Amcor by 10.6% in the third quarter. Townsquare Capital LLC now owns 49,105 shares of the company’s stock valued at $556,000 after buying an additional 4,700 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Amcor by 153.4% in the third quarter. Glenmede Trust Co. NA now owns 84,163 shares of the company’s stock valued at $954,000 after buying an additional 50,949 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after buying an additional 4,851,222 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.6 %

AMCR opened at $9.70 on Tuesday. The company’s 50 day moving average is $9.93 and its 200-day moving average is $10.22. The company has a market cap of $14.01 billion, a P/E ratio of 17.63, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last posted its 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 firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders 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 yield of 5.26%. Amcor’s payout ratio is presently 92.73%.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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