Parametric Portfolio Associates LLC Sells 1,462,045 Shares of Amcor plc (NYSE:AMCR)

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Parametric Portfolio Associates LLC cut its stake in Amcor plc (NYSE:AMCR) by 33.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,926,962 shares of the company’s stock after selling 1,462,045 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.18% of Amcor worth $28,538,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in Amcor in the second quarter valued at approximately $182,000. Commonwealth Equity Services LLC acquired a new stake in shares of Amcor in the 2nd quarter worth $329,000. Robeco Institutional Asset Management B.V. purchased a new position in Amcor during the 2nd quarter worth $1,799,000. AE Wealth Management LLC purchased a new position in Amcor during the 2nd quarter worth $147,000. Finally, BB&T Corp purchased a new position in Amcor during the 2nd quarter worth $383,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

NYSE:AMCR opened at $10.07 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.70 and a current ratio of 1.19. Amcor plc has a twelve month low of $8.75 and a twelve month high of $11.77. The stock has a market cap of $16.62 billion, a P/E ratio of 16.51, a PEG ratio of 2.19 and a beta of 0.77. The stock’s 50 day moving average is $9.85.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Amcor had a return on equity of 18.16% and a net margin of 4.07%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business posted $0.68 EPS. The company’s quarterly revenue was up 38.8% on a year-over-year basis. As a group, research analysts anticipate that Amcor plc will post 0.63 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Thursday, November 28th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, November 26th. Amcor’s payout ratio is 75.41%.

A number of equities research analysts have commented on the company. Credit Suisse Group upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Monday, November 11th. ValuEngine upgraded Amcor from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group initiated coverage on shares of Amcor in a report on Tuesday, October 22nd. They set an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Amcor presently has an average rating of “Hold” and a consensus target price of $13.00.

In related news, insider Louis Fred Stephan sold 69,787 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.27, for a total value of $716,712.49. Company insiders own 0.23% of the company’s stock.

Amcor Company Profile

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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