Keybank National Association OH Acquires New Holdings in Amcor PLC $AMCR

Keybank National Association OH bought a new stake in shares of Amcor PLC (NYSE:AMCR) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 22,283 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in shares of Amcor by 5.3% in the second quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock valued at $190,000 after purchasing an additional 1,035 shares during the last quarter. Private Trust Co. NA grew its holdings in Amcor by 4.8% during the 2nd quarter. Private Trust Co. NA now owns 28,611 shares of the company’s stock valued at $263,000 after buying an additional 1,310 shares during the last quarter. ORG Partners LLC grew its holdings in Amcor by 17.2% during the 2nd quarter. ORG Partners LLC now owns 10,262 shares of the company’s stock valued at $98,000 after buying an additional 1,506 shares during the last quarter. Greenleaf Trust increased its position in Amcor by 12.6% during the first quarter. Greenleaf Trust now owns 13,574 shares of the company’s stock worth $132,000 after buying an additional 1,514 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Amcor by 2.6% in the second quarter. Raleigh Capital Management Inc. now owns 63,652 shares of the company’s stock worth $585,000 after acquiring an additional 1,588 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. The Goldman Sachs Group started coverage on shares of Amcor in a report on Wednesday, September 10th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target for the company. Truist Financial set a $11.00 price objective on shares of Amcor and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.84.

Amcor Price Performance

Amcor stock opened at $8.22 on Friday. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.70. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The firm has a 50 day moving average price of $8.16 and a 200 day moving average price of $8.89. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business’s quarterly revenue was up 71.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. Sell-side analysts predict that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.3%. Amcor’s dividend payout ratio (DPR) is 141.67%.

Insider Activity

In other news, Director Stephen E. Sterrett bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

About Amcor

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.