Amcor plc (NYSE:AMCR) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its holdings in Amcor plc (NYSE:AMCR) by 9.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 118,500 shares of the company’s stock after selling 11,750 shares during the period. FineMark National Bank & Trust’s holdings in Amcor were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. United Services Automobile Association raised its stake in Amcor by 10.2% during the 4th quarter. United Services Automobile Association now owns 32,682 shares of the company’s stock worth $308,000 after acquiring an additional 3,021 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after purchasing an additional 1,249,868 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Amcor during the fourth quarter worth about $4,903,000. AXQ Capital LP acquired a new stake in shares of Amcor during the fourth quarter worth about $1,047,000. Finally, Sei Investments Co. lifted its holdings in shares of Amcor by 9.3% in the 4th quarter. Sei Investments Co. now owns 145,325 shares of the company’s stock valued at $1,368,000 after purchasing an additional 12,311 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMCR. 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 note on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Wednesday, December 11th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Amcor Stock Performance

Shares of AMCR opened at $9.43 on Wednesday. The stock has a market capitalization of $13.63 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company’s fifty day moving average is $9.93 and its two-hundred day moving average is $10.26.

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, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s 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. On average, sell-side analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. Amcor’s dividend payout ratio is currently 92.73%.

Insider Activity at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.