Welch & Forbes LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,817 shares of the company’s stock, valued at approximately $408,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Bedel Financial Consulting Inc. lifted its position in Amcor by 323.1% during the third quarter. Bedel Financial Consulting Inc. now owns 7,553 shares of the company’s stock valued at $74,000 after purchasing an additional 5,768 shares during the last quarter. Carroll Financial Associates Inc. bought a new position in Amcor during the third quarter valued at $49,000. North Star Investment Management Corp. bought a new position in Amcor during the third quarter valued at $25,000. Fulton Bank N.A. bought a new position in Amcor during the third quarter valued at $581,000. Finally, State of Alaska Department of Revenue lifted its position in Amcor by 311.6% during the third quarter. State of Alaska Department of Revenue now owns 288,863 shares of the company’s stock valued at $2,816,000 after purchasing an additional 218,683 shares during the last quarter. Institutional investors and hedge funds own 26.56% of the company’s stock.

Several research firms have commented on AMCR. Citigroup began coverage on shares of Amcor in a research report on Thursday, June 20th. They set a “buy” rating and a $13.00 price objective for the company. ValuEngine lowered shares of Amcor from a “hold” rating to a “sell” rating in a report on Thursday.

Amcor stock opened at $9.60 on Friday. The business has a 50-day moving average price of $9.69. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 16.80 and a beta of 0.76. The company has a quick ratio of 0.72, a current ratio of 1.15 and a debt-to-equity ratio of 0.94. Amcor plc has a 12-month low of $8.75 and a 12-month high of $11.77.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 11th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $0.48 annualized dividend and a dividend yield of 5.00%. Amcor’s dividend payout ratio (DPR) is presently 78.69%.

In other news, insider Louis Fred Stephan sold 69,787 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $10.27, for a total value of $716,712.49. 0.23% of the stock is currently owned by company insiders.

Amcor Company Profile

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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