Dynamic Technology Lab Private Ltd Buys New Shares in Amcor plc (NYSE:AMCR)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Amcor plc (NYSE:AMCR) during the 3rd quarter, Holdings Channel reports. The fund purchased 107,239 shares of the company’s stock, valued at approximately $1,215,000.

Other large investors also recently modified their holdings of the company. Lake Street Advisors Group LLC grew its stake in shares of Amcor by 8.4% in the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after buying an additional 946 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Amcor by 9.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after acquiring an additional 1,023 shares during the period. Forum Financial Management LP increased its stake in shares of Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after purchasing an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of Amcor by 6.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock valued at $215,000 after purchasing an additional 1,085 shares during the period. Finally, Quent Capital LLC grew its holdings in Amcor by 51.8% during 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 during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

AMCR opened at $10.39 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74. The business has a fifty day simple moving average of $10.83 and a 200 day simple moving average of $10.51. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The company has a market capitalization of $15.01 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85.

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

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a dividend yield of 4.91%. Amcor’s dividend payout ratio (DPR) is currently 96.23%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMCR. Wells Fargo & Company upped their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Citigroup upped their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird raised their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.94.

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.