Securian Asset Management Inc. Decreases Stock Holdings in Amcor PLC $AMCR

Securian Asset Management Inc. reduced its stake in shares of Amcor PLC (NYSE:AMCR) by 43.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,768 shares of the company’s stock after selling 48,556 shares during the period. Securian Asset Management Inc.’s holdings in Amcor were worth $523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock worth $34,000 after acquiring an additional 373 shares during the period. United Asset Strategies Inc. increased its position in Amcor by 1.6% during the fourth quarter. United Asset Strategies Inc. now owns 38,453 shares of the company’s stock worth $321,000 after purchasing an additional 597 shares during the last quarter. Shayne & Jacobs LLC increased its position in Amcor by 0.6% during the fourth quarter. Shayne & Jacobs LLC now owns 129,101 shares of the company’s stock worth $1,077,000 after purchasing an additional 755 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Amcor by 3.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 26,857 shares of the company’s stock worth $224,000 after purchasing an additional 832 shares during the period. Finally, Horizon Investments LLC boosted its holdings in Amcor by 3.7% in the 4th quarter. Horizon Investments LLC now owns 25,768 shares of the company’s stock valued at $215,000 after purchasing an additional 921 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Trading Down 4.9%

AMCR opened at $36.71 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The firm has a market cap of $16.97 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.17 and a beta of 0.63. Amcor PLC has a 52 week low of $36.67 and a 52 week high of $50.94. The business has a fifty day simple moving average of $40.08 and a 200-day simple moving average of $42.41.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, meeting analysts’ consensus estimates of $0.96. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.Amcor’s revenue for the quarter was up 77.4% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, equities analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a yield of 7.1%. Amcor’s dividend payout ratio is 181.82%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Citigroup cut their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Wells Fargo & Company downgraded Amcor from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $48.00 to $43.00 in a research report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and an average target price of $49.56.

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.