SlateStone Wealth LLC Has $626,000 Stock Holdings in Amcor plc (NYSE:AMCR)

SlateStone Wealth LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 3.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,550 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. SlateStone Wealth LLC’s holdings in Amcor were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Renasant Bank acquired a new stake in shares of Amcor during the 4th quarter worth about $132,000. Avantax Advisory Services Inc. increased its position in shares of Amcor by 14.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 19,174 shares of the company’s stock worth $180,000 after purchasing an additional 2,440 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Amcor during the 4th quarter worth about $125,000. HighTower Advisors LLC increased its position in shares of Amcor by 3.3% during the 4th quarter. HighTower Advisors LLC now owns 248,303 shares of the company’s stock worth $2,337,000 after purchasing an additional 7,836 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in Amcor by 11.3% in the 4th quarter. Independent Advisor Alliance now owns 67,290 shares of the company’s stock valued at $633,000 after acquiring an additional 6,848 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Up 1.6 %

Shares of NYSE AMCR opened at $9.79 on Monday. The firm’s 50-day moving average is $9.90 and its 200-day moving average is $10.34. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The firm has a market capitalization of $14.14 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. 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 released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm earned $0.09 EPS. Amcor’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts expect that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a research report 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. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three equities 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Insider Buying and Selling

In related news, Director Achal Agarwal bought 10,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.

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.