Maryland State Retirement & Pension System Has $723,000 Holdings in Amcor plc (NYSE:AMCR)

Maryland State Retirement & Pension System trimmed its position in shares of Amcor plc (NYSE:AMCR) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,787 shares of the company’s stock after selling 5,376 shares during the period. Maryland State Retirement & Pension System’s holdings in Amcor were worth $723,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Amcor by 1.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,234 shares of the company’s stock valued at $1,850,000 after purchasing an additional 3,019 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Amcor by 78.7% in the 3rd quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after acquiring an additional 95,805 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Amcor by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 176,613 shares of the company’s stock worth $2,001,000 after acquiring an additional 18,352 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Amcor in the 3rd quarter worth about $1,215,000. 45.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Amcor Stock Up 1.1 %

Shares of NYSE:AMCR opened at $9.54 on Tuesday. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The business’s 50-day moving average is $9.93 and its 200-day moving average is $10.27. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 1.96 and a beta of 0.80.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMCR. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.46.

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.