Hennion & Walsh Asset Management Inc. Purchases 5,480 Shares of Amcor plc (NYSE:AMCR)

Hennion & Walsh Asset Management Inc. increased its holdings in Amcor plc (NYSE:AMCR) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,033 shares of the company’s stock after purchasing an additional 5,480 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Amcor were worth $1,677,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Amcor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after buying an additional 1,170,986 shares during the last quarter. M&G Plc raised its position in Amcor by 2,741.7% during the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after purchasing an additional 45,504,608 shares during the period. Price T Rowe Associates Inc. MD raised its position in Amcor by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after purchasing an additional 2,086,698 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Amcor by 7.8% in the 2nd quarter. ProShare Advisors LLC now owns 19,916,478 shares of the company’s stock worth $194,783,000 after purchasing an additional 1,443,364 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Amcor by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock worth $143,989,000 after purchasing an additional 1,527,492 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup raised their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Stifel Nicolaus started coverage on shares of Amcor in a research note on Tuesday, July 9th. They issued a “hold” rating and a $10.80 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Amcor currently has a consensus rating of “Hold” and a consensus target price of $10.78.

Amcor Price Performance

Amcor stock opened at $11.00 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.17 and a quick ratio of 0.69. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.72 and a beta of 0.85. The firm has a 50-day moving average of $11.12 and a two-hundred day moving average of $10.32. Amcor plc has a 1 year low of $8.53 and a 1 year high of $11.48.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. Amcor had a return on equity of 25.45% and a net margin of 5.35%. Amcor’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. On average, research analysts forecast that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 6th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, September 6th. This represents a $0.50 annualized dividend and a dividend yield of 4.55%. Amcor’s dividend payout ratio is currently 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.