DnB Asset Management AS Buys 12,036 Shares of Amcor plc (NYSE:AMCR)

DnB Asset Management AS lifted its stake in shares of Amcor plc (NYSE:AMCR) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,427 shares of the company’s stock after purchasing an additional 12,036 shares during the quarter. DnB Asset Management AS’s holdings in Amcor were worth $2,611,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its holdings in Amcor by 0.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,948,702 shares of the company’s stock worth $37,157,000 after acquiring an additional 29,635 shares in the last quarter. Norges Bank acquired a new position in shares of Amcor during the fourth quarter worth approximately $6,223,000. AssuredPartners Investment Advisors LLC bought a new position in shares of Amcor in the 4th quarter worth $580,000. NEOS Investment Management LLC lifted its holdings in shares of Amcor by 31.6% in the 4th quarter. NEOS Investment Management LLC now owns 88,013 shares of the company’s stock worth $828,000 after purchasing an additional 21,157 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Amcor by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,881,049 shares of the company’s stock valued at $83,571,000 after purchasing an additional 86,456 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction on 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 acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Amcor Stock Performance

Shares of Amcor stock opened at $9.81 on Wednesday. The business’s fifty day simple moving average is $9.93 and its 200 day simple moving average is $10.21. 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 plc has a 12 month low of $8.80 and a 12 month high of $11.48. The firm has a market capitalization of $14.17 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $0.09 EPS. As a group, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid 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 5.20%. Amcor’s payout ratio is currently 92.73%.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent research reports. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a report on Wednesday, December 11th. Three investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.46.

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.