M&T Bank Corp Sells 48,595 Shares of Amcor plc (NYSE:AMCR)

M&T Bank Corp lessened its position in shares of Amcor plc (NYSE:AMCR) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 215,352 shares of the company’s stock after selling 48,595 shares during the quarter. M&T Bank Corp’s holdings in Amcor were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amcor by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after acquiring an additional 2,862,471 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Amcor by 39,411.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after acquiring an additional 2,804,484 shares in the last quarter. KBC Group NV increased its stake in Amcor by 94.8% in the third quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock valued at $33,312,000 after acquiring an additional 1,430,545 shares during the period. Finally, Barclays PLC increased its stake in Amcor by 31.8% in 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. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMCR. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Three research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.46.

Insider Activity

In other 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, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Amcor Price Performance

Amcor stock opened at $10.29 on Monday. The business’s fifty day moving average is $9.85 and its two-hundred day moving average is $10.38. 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 P/E ratio of 18.70, a P/E/G ratio of 1.96 and a beta of 0.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be paid 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 (DPR) is currently 92.73%.

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.