ING Groep NV Has $2.41 Million Stock Holdings in Amcor plc (NYSE:AMCR)

ING Groep NV lowered its holdings in shares of Amcor plc (NYSE:AMCR) by 89.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 212,613 shares of the company’s stock after selling 1,711,853 shares during the period. ING Groep NV’s holdings in Amcor were worth $2,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new position in Amcor during the third quarter worth about $35,000. ORG Wealth Partners LLC bought a new stake in shares of Amcor during the 3rd quarter valued at approximately $35,000. Quent Capital LLC increased its position in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. Signaturefd LLC lifted its stake in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after purchasing an additional 3,242 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Up 0.4 %

NYSE AMCR opened at $10.22 on Friday. The firm has a market capitalization of $14.77 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85. The business’s 50-day moving average price is $10.92 and its two-hundred day moving average price is $10.50. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last announced its earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. On average, analysts expect that Amcor plc will post 0.74 EPS 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 paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is currently 94.34%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird lifted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Citigroup upped their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amcor presently has an average rating of “Hold” and an average target price of $10.94.

Amcor 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.