Amcor Sees Unusually High Options Volume (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the target of unusually large options trading on Friday. Investors purchased 13,512 put options on the company. This is an increase of 449% compared to the typical daily volume of 2,461 put options.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Amcor

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its stake in shares of Amcor by 303.9% in the 4th quarter. Marshall Wace LLP now owns 8,699,610 shares of the company’s stock worth $81,863,000 after buying an additional 6,545,689 shares in the last quarter. Wellington Management Group LLP grew its holdings in Amcor by 25.1% during the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock worth $263,215,000 after acquiring an additional 5,614,233 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Amcor by 275.3% in 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 acquiring an additional 4,851,222 shares in the last quarter. First Trust Advisors LP lifted its holdings in Amcor by 474.7% in the 4th quarter. First Trust Advisors LP now owns 5,402,490 shares of the company’s stock valued at $50,837,000 after acquiring an additional 4,462,367 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company’s stock valued at $286,300,000 after purchasing an additional 4,199,209 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of NYSE:AMCR traded down $0.23 during trading on Friday, hitting $9.49. 18,540,184 shares of the company traded hands, compared to its average volume of 12,042,563. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The business’s fifty day moving average is $9.93 and its 200-day moving average is $10.31. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.96 and a beta of 0.80. Amcor has a one year low of $8.80 and a one year high of $11.48.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share. As a group, equities analysts predict that Amcor will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.38%. Amcor’s dividend payout ratio is presently 92.73%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $12.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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.

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.