West Family Investments Inc. Makes New Investment in Amcor plc (NYSE:AMCR)

West Family Investments Inc. purchased a new stake in shares of Amcor plc (NYSE:AMCR) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 11,614 shares of the company’s stock, valued at approximately $132,000.

Several other hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in Amcor by 1.9% during the third quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock valued at $1,850,000 after buying an additional 3,019 shares in the last quarter. Claro Advisors LLC acquired a new stake in Amcor in the 3rd quarter valued at about $152,000. Atlanta Consulting Group Advisors LLC bought a new position in shares of Amcor during the 3rd quarter valued at about $399,000. Natixis Advisors LLC grew 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 worth $7,190,000 after purchasing an additional 124,945 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Amcor by 6.0% in the 3rd quarter. Empowered Funds LLC now owns 133,379 shares of the company’s stock worth $1,511,000 after purchasing an additional 7,507 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.34 on Thursday. The company’s fifty day moving average is $10.87 and its two-hundred day moving average is $10.50. The company has a market cap of $14.94 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. Amcor plc has a 12-month low of $8.78 and a 12-month high of $11.48. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share 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 period in the previous year, the firm earned $0.16 earnings per share. Amcor’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal 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 given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.93%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. Amcor’s dividend payout ratio is 94.34%.

About Amcor

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.