Tower Research Capital LLC TRC Increases Stake in Amcor plc (NYSE:AMCR)
Tower Research Capital LLC TRC raised its holdings in shares of Amcor plc (NYSE:AMCR) by 11.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,719 shares of the company’s stock after buying an additional 1,108 shares during the period. Tower Research Capital LLC TRC’s holdings in Amcor were worth $87,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in AMCR. FMR LLC increased its stake in shares of Amcor by 54.5% in the fourth quarter. FMR LLC now owns 148,002 shares of the company’s stock worth $1,605,000 after purchasing an additional 52,220 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Amcor by 77.5% in the fourth quarter. Bank of Montreal Can now owns 1,384,241 shares of the company’s stock worth $15,005,000 after purchasing an additional 604,171 shares in the last quarter. KBC Group NV increased its stake in shares of Amcor by 6.8% in the fourth quarter. KBC Group NV now owns 677,863 shares of the company’s stock worth $7,348,000 after purchasing an additional 42,926 shares in the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Amcor in the fourth quarter worth $182,000. Finally, Piedmont Investment Advisors Inc. increased its stake in shares of Amcor by 22.9% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 29,791 shares of the company’s stock worth $323,000 after purchasing an additional 5,552 shares in the last quarter. 30.50% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. Deutsche Bank raised their target price on shares of Amcor from $7.50 to $9.25 and gave the company a “buy” rating in a research note on Thursday, April 2nd. ValuEngine cut shares of Amcor from a “hold” rating to a “sell” rating in a research note on Wednesday, June 17th. Zacks Investment Research cut shares of Amcor from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. Credit Suisse Group cut shares of Amcor from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 10th. Finally, Atlantic Securities assumed coverage on shares of Amcor in a research note on Monday, June 1st. They set a “neutral” rating and a $11.50 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Amcor has a consensus rating of “Hold” and an average target price of $11.33.
Amcor (NYSE:AMCR) last released its quarterly earnings data on Monday, May 11th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.05). Amcor had a net margin of 4.32% and a return on equity of 14.91%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter last year, the business earned $0.10 EPS. Amcor’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, analysts anticipate that Amcor plc will post 0.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.46 annualized dividend and a yield of 4.62%. Amcor’s dividend payout ratio (DPR) is currently 75.41%.
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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