Graypoint LLC Acquires Shares of 10,280 Amcor plc (NYSE:AMCR)

Graypoint LLC acquired a new stake in Amcor plc (NYSE:AMCR) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,280 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. lifted its stake in shares of Amcor by 39.3% in the 3rd quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares during the period. Natixis Advisors LLC lifted its stake in shares of Amcor by 24.5% in the 3rd quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock valued at $7,190,000 after purchasing an additional 124,945 shares during the period. Cerity Partners LLC lifted its stake in shares of Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Amcor in the 3rd quarter valued at $5,919,000. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMCR. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Wednesday, December 11th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Price Performance

AMCR stock opened at $9.43 on Monday. The stock has a 50-day moving average price of $9.95 and a two-hundred day moving average price of $10.45. The stock has a market cap of $13.63 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Equities analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st were issued a $0.1275 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

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.