Mutual of America Capital Management LLC Cuts Stake in Amcor plc (NYSE:AMCR)

Mutual of America Capital Management LLC cut its holdings in Amcor plc (NYSE:AMCR) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 177,961 shares of the company’s stock after selling 4,314 shares during the period. Mutual of America Capital Management LLC’s holdings in Amcor were worth $2,016,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in Amcor in the 3rd quarter worth about $35,000. ORG Wealth Partners LLC bought a new stake in Amcor during the third quarter valued at about $35,000. Quent Capital LLC raised its holdings in Amcor by 51.8% in the second quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock worth $36,000 after purchasing an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Amcor by 132.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Amcor by 38.7% in the 2nd quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after buying an additional 1,299 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AMCR. Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Wells Fargo & Company increased their price target on Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird increased their price target 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. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.94.

Amcor Trading Up 0.2 %

NYSE AMCR opened at $10.49 on Monday. The company’s 50 day moving average price is $10.85 and its 200 day moving average price is $10.51. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a one year low of $8.78 and a one year high of $11.48. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.89 and a beta of 0.85.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. On average, sell-side analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, November 21st. Amcor’s dividend payout ratio is currently 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.