Amcor PLC $AMCR Shares Acquired by Patrick Mauro Investment Advisor INC.

Patrick Mauro Investment Advisor INC. lifted its stake in Amcor PLC (NYSE:AMCR) by 110.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,203 shares of the company’s stock after buying an additional 20,044 shares during the period. Patrick Mauro Investment Advisor INC.’s holdings in Amcor were worth $313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prudential Financial Inc. boosted its position in shares of Amcor by 124.5% in the 2nd quarter. Prudential Financial Inc. now owns 395,591 shares of the company’s stock valued at $3,635,000 after purchasing an additional 219,390 shares during the period. Norges Bank acquired a new position in Amcor during the second quarter worth approximately $328,839,000. Kingsview Wealth Management LLC increased its position in Amcor by 4.1% during the second quarter. Kingsview Wealth Management LLC now owns 955,672 shares of the company’s stock worth $8,783,000 after buying an additional 37,499 shares during the period. Legal & General Group Plc lifted its stake in Amcor by 37.7% in the second quarter. Legal & General Group Plc now owns 11,618,449 shares of the company’s stock valued at $106,774,000 after buying an additional 3,181,138 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in Amcor by 2,272.4% in the second quarter. OMERS ADMINISTRATION Corp now owns 1,228,456 shares of the company’s stock valued at $11,290,000 after buying an additional 1,176,675 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMCR shares. Citigroup restated a “buy” rating on shares of Amcor in a research report on Thursday, February 12th. Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research report on Wednesday, January 28th. Robert W. Baird set a $54.00 price target on shares of Amcor in a research note on Wednesday, February 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Amcor from $9.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.88.

Amcor Trading Up 0.7%

NYSE:AMCR opened at $40.59 on Friday. Amcor PLC has a 12-month low of $38.33 and a 12-month high of $50.94. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $45.48 and its 200-day simple moving average is $42.79. The firm has a market cap of $18.76 billion, a P/E ratio of 26.53, a PEG ratio of 0.94 and a beta of 0.65.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 68.1% on a year-over-year basis. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. Equities analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Wednesday, February 25th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Wednesday, February 25th. Amcor’s dividend payout ratio (DPR) is 169.93%.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.