Acadian Asset Management LLC Purchases Shares of 7,699 Amcor plc (NYSE:AMCR)

Acadian Asset Management LLC acquired a new stake in Amcor plc (NYSE:AMCR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,699 shares of the company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. M&G Plc lifted its stake in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock worth $471,644,000 after acquiring an additional 45,504,608 shares during the last quarter. Wellington Management Group LLP purchased a new position in Amcor in the fourth quarter worth approximately $155,438,000. Norges Bank purchased a new position in Amcor in the fourth quarter worth approximately $47,669,000. Price T Rowe Associates Inc. MD lifted its stake in Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock worth $195,946,000 after acquiring an additional 2,086,698 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Amcor by 2.1% in the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after acquiring an additional 1,170,986 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Citigroup boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Stifel Nicolaus initiated coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Finally, Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Amcor presently has an average rating of “Hold” and a consensus price target of $10.73.

Amcor Stock Performance

NYSE:AMCR opened at $10.90 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.45. The stock has a market cap of $15.75 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The firm’s fifty day simple moving average is $10.73 and its 200-day simple moving average is $10.02.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the firm earned $0.19 EPS. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts expect that Amcor plc will post 0.75 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 4.59%. Amcor’s dividend payout ratio (DPR) is 111.11%.

Amcor Profile

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.