Nomura Asset Management Co. Ltd. Acquires 572,832 Shares of Amcor PLC $AMCR

Nomura Asset Management Co. Ltd. grew its holdings in shares of Amcor PLC (NYSE:AMCR) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,290,532 shares of the company’s stock after acquiring an additional 572,832 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Amcor were worth $44,123,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brown Lisle Cummings Inc. boosted its position in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the last quarter. N.E.W. Advisory Services LLC boosted its position 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 valued at $34,000 after acquiring an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Amcor during the 2nd quarter valued at about $36,000. Finally, Huntington National Bank lifted its position in Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock worth $37,000 after buying an additional 2,020 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Amcor in a research report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Citigroup dropped their target price on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Truist Financial restated a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor Price Performance

Shares of Amcor stock opened at $38.87 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The business’s 50 day simple moving average is $39.45 and its two-hundred day simple moving average is $42.27. The stock has a market capitalization of $17.97 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.17 and a beta of 0.64. Amcor PLC has a one year low of $36.25 and a one year high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. The business had revenue of $5.91 billion for 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%.The business’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Analysts forecast that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.

Amcor Company Profile

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.