211,020 Shares in Amcor PLC $AMCR Bought by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in Amcor PLC (NYSE:AMCR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 211,020 shares of the company’s stock, valued at approximately $8,388,000.

Several other large investors have also bought and sold shares of AMCR. N.E.W. Advisory Services LLC grew its position in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after buying an additional 373 shares during the last quarter. CYBER HORNET ETFs LLC increased its stake in shares of Amcor by 11.1% in the fourth quarter. CYBER HORNET ETFs LLC now owns 4,488 shares of the company’s stock valued at $37,000 after buying an additional 447 shares during the period. FineMark National Bank & Trust raised its position in shares of Amcor by 0.6% during the fourth quarter. FineMark National Bank & Trust now owns 80,503 shares of the company’s stock worth $671,000 after acquiring an additional 503 shares during the last quarter. United Asset Strategies Inc. raised its position in shares of 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 acquiring an additional 597 shares during the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in shares of Amcor in the first quarter worth approximately $25,000. 45.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup lowered their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Truist Financial restated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price objective on shares of Amcor and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Finally, Bank of America increased their price objective on shares of Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

Amcor Trading Up 4.6%

NYSE AMCR opened at $44.60 on Friday. The stock has a market capitalization of $20.62 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.40 and a beta of 0.62. The business has a 50 day simple moving average of $41.11 and a 200 day simple moving average of $42.23. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. Amcor PLC has a one year low of $36.25 and a one year high of $50.94.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company’s revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. Research analysts expect that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s payout ratio is currently 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.