Amcor plc (NYSE:AMCR) Shares Bought by Huntington National Bank

Huntington National Bank raised its holdings in Amcor plc (NYSE:AMCR) by 52.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,426 shares of the company’s stock after buying an additional 1,522 shares during the period. Huntington National Bank’s holdings in Amcor were worth $42,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in Amcor during the 4th quarter worth $217,000. Geode Capital Management LLC raised its holdings in Amcor by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company’s stock valued at $345,952,000 after acquiring an additional 539,756 shares in the last quarter. OLD Mission Capital LLC grew its holdings in Amcor by 1,011.3% during the 4th quarter. OLD Mission Capital LLC now owns 876,214 shares of the company’s stock worth $8,245,000 after acquiring an additional 797,367 shares in the last quarter. D L Carlson Investment Group Inc. increased its position in shares of Amcor by 7.9% in the 4th quarter. D L Carlson Investment Group Inc. now owns 214,277 shares of the company’s stock valued at $2,016,000 after purchasing an additional 15,736 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Amcor by 25.1% in the 4th quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company’s stock valued at $263,215,000 after purchasing an additional 5,614,233 shares in the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Activity at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Performance

NYSE AMCR opened at $8.91 on Tuesday. The business’s 50-day moving average price is $9.89 and its 200 day moving average price is $10.17. 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 firm has a market cap of $12.88 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.96 and a beta of 0.78. Amcor plc has a 52-week low of $8.71 and a 52-week high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.73%. Amcor’s dividend payout ratio is currently 92.73%.

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.