Eliot Finkel Investment Counsel LLC Grows Stock Holdings in Amcor plc (NYSE:AMCR)

Eliot Finkel Investment Counsel LLC raised its stake in Amcor plc (NYSE:AMCR) by 95.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,460 shares of the company’s stock after buying an additional 95,330 shares during the period. Amcor comprises 1.2% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 29th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in Amcor were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AMCR. Forum Financial Management LP raised its holdings in shares of Amcor by 7.7% in the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after purchasing an additional 1,058 shares in 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 in the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Amcor by 3.9% in the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock valued at $304,000 after purchasing an additional 1,213 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Amcor by 11.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock valued at $131,000 after purchasing an additional 1,409 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of Amcor by 0.8% during the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock worth $1,842,000 after acquiring an additional 1,507 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMCR has been the subject of several recent analyst reports. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Up 0.4 %

NYSE:AMCR opened at $10.11 on Friday. The company has a market cap of $14.61 billion, a PE ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 0.84. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company’s 50 day moving average is $9.78 and its two-hundred day moving average is $10.41.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

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.