Tocqueville Asset Management L.P. Sells 179,164 Shares of Amcor plc (NYSE:AMCR)

Tocqueville Asset Management L.P. cut its position in shares of Amcor plc (NYSE:AMCR) by 34.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 341,025 shares of the company’s stock after selling 179,164 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Amcor were worth $3,209,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 purchasing an additional 4,851,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Amcor by 39,411.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock valued at $31,855,000 after acquiring an additional 2,804,484 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Amcor during the 4th quarter valued at about $23,810,000. Finally, Barclays PLC grew its position in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after acquiring an additional 1,096,664 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Performance

Shares of AMCR opened at $9.91 on Wednesday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The company has a 50-day simple moving average of $9.92 and a two-hundred day simple moving average of $10.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm has a market capitalization of $14.32 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion for 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 firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. On average, analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial raised 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 report on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.