Meritage Portfolio Management Invests $3.77 Million in Amcor plc (NYSE:AMCR)

Meritage Portfolio Management purchased a new stake in Amcor plc (NYSE:AMCR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 391,192 shares of the company’s stock, valued at approximately $3,771,000.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Amcor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock valued at $517,349,000 after purchasing an additional 325,747 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Amcor by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 30,621,317 shares of the company’s stock valued at $280,491,000 after buying an additional 594,034 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Amcor by 1.9% in the fourth quarter. Federated Hermes Inc. now owns 25,391,765 shares of the company’s stock valued at $244,777,000 after buying an additional 468,883 shares during the last quarter. American Century Companies Inc. grew its holdings in Amcor by 3.4% during the 3rd quarter. American Century Companies Inc. now owns 22,830,158 shares of the company’s stock worth $209,124,000 after acquiring an additional 748,138 shares during the last quarter. Finally, Invesco Ltd. increased its position in Amcor by 14.9% in the 3rd quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock valued at $188,067,000 after acquiring an additional 2,664,715 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

Shares of AMCR stock traded down $0.11 during trading hours on Thursday, reaching $8.95. 5,408,529 shares of the company were exchanged, compared to its average volume of 8,491,280. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.25 and a quick ratio of 0.71. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 9.87 and a beta of 0.78. The stock’s fifty day moving average is $9.19 and its two-hundred day moving average is $9.27. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.09.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Amcor had a return on equity of 24.28% and a net margin of 4.59%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Sell-side analysts forecast that Amcor plc will post 0.68 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Tuesday, February 27th. Amcor’s dividend payout ratio is presently 113.64%.

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.