Glenmede Trust Co. NA Acquires 50,949 Shares of Amcor plc (NYSE:AMCR)

Glenmede Trust Co. NA lifted its holdings in Amcor plc (NYSE:AMCR) by 153.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,163 shares of the company’s stock after acquiring an additional 50,949 shares during the period. Glenmede Trust Co. NA’s holdings in Amcor were worth $954,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in shares of Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the last quarter. Rise Advisors LLC purchased a new position in Amcor during the third quarter worth $35,000. ORG Wealth Partners LLC bought a new position in Amcor during the third quarter valued at $35,000. Quent Capital LLC raised its stake in shares of Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after acquiring an additional 1,241 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Amcor by 132.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after acquiring an additional 2,519 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.8 %

AMCR opened at $10.55 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The stock’s fifty day moving average is $10.80 and its two-hundred day moving average is $10.51. The company has a market capitalization of $15.25 billion, a P/E ratio of 19.94, a PEG ratio of 1.92 and a beta of 0.85. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 4.83%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMCR. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company raised their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup boosted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Robert W. Baird boosted their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.94.

Amcor Company 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.