Eliot Finkel Investment Counsel LLC Sells 10,940 Shares of Amcor PLC $AMCR

Eliot Finkel Investment Counsel LLC lowered its stake in shares of Amcor PLC (NYSE:AMCR) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,375 shares of the company’s stock after selling 10,940 shares during the quarter. Amcor comprises 1.5% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 27th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Amcor were worth $2,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AMCR. Vanguard Group Inc. boosted its position in Amcor by 15.5% during the first quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock valued at $660,627,000 after purchasing an additional 9,119,308 shares in the last quarter. Nuveen LLC bought a new stake in Amcor during the first quarter valued at about $37,522,000. Charles Schwab Investment Management Inc. boosted its position in Amcor by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock valued at $483,367,000 after purchasing an additional 3,778,714 shares in the last quarter. Invesco Ltd. boosted its position in Amcor by 9.5% during the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock valued at $323,149,000 after purchasing an additional 2,889,166 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Amcor by 34.9% during the first quarter. Bank of New York Mellon Corp now owns 10,613,159 shares of the company’s stock valued at $102,948,000 after purchasing an additional 2,747,846 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.8%

Shares of NYSE:AMCR opened at $8.17 on Friday. Amcor PLC has a 52-week low of $7.90 and a 52-week high of $11.46. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.07 and a beta of 0.73. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $8.67 and a 200-day moving average price of $9.10.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Equities analysts predict that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 6.2%. The ex-dividend date was Friday, September 5th. Amcor’s dividend payout ratio (DPR) is currently 141.67%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. UBS Group upgraded Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. assumed coverage on Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price target for the company. Royal Bank Of Canada assumed coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating for the company. Wells Fargo & Company increased their price target on Amcor from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group assumed coverage on Amcor in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus price target of $11.21.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett purchased 10,000 shares of Amcor stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.32% 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.