TCW Group Inc. Purchases New Position in Amcor plc (NYSE:AMCR)

TCW Group Inc. purchased a new stake in Amcor plc (NYSE:AMCR) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,758 shares of the company’s stock, valued at approximately $224,000.

Several other hedge funds have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC boosted its holdings in shares of Amcor by 8.4% in the 3rd quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock worth $138,000 after acquiring an additional 946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after purchasing an additional 1,023 shares during the last quarter. Forum Financial Management LP boosted its stake in Amcor by 7.7% in the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after purchasing an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of Amcor by 5.3% during the second quarter. Arkadios Wealth Advisors now owns 25,597 shares of the company’s stock worth $250,000 after purchasing an additional 1,298 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Down 1.0 %

Shares of NYSE AMCR opened at $9.90 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.30 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The firm’s 50-day moving average is $10.60 and its 200-day moving average is $10.52. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48.

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

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.15%. Amcor’s payout ratio is 96.23%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMCR shares. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday. Wells Fargo & Company boosted their target price 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. Robert W. Baird increased their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup raised their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.20.

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.