Amcor plc (NYSE:AMCR) Director Achal Agarwal Acquires 10,000 Shares

Amcor plc (NYSE:AMCR) Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Amcor Stock Performance

NYSE:AMCR opened at $9.95 on Wednesday. The stock has a market cap of $14.37 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. 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 stock’s 50-day moving average is $9.81 and its 200-day moving average is $10.40. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. Equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s dividend payout ratio (DPR) is currently 92.73%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMCR. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Institutional Trading of Amcor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the period. Quarry LP lifted its stake in shares of Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after acquiring an additional 3,551 shares during the period. True Wealth Design LLC lifted its stake in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after acquiring an additional 1,522 shares during the period. 45.14% of the stock is currently owned by institutional investors.

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.