Amcor PLC $AMCR Shares Purchased by Investors Research Corp

Investors Research Corp boosted its stake in Amcor PLC (NYSE:AMCR) by 32,298.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 28,187 shares of the company’s stock after acquiring an additional 28,100 shares during the period. Investors Research Corp’s holdings in Amcor were worth $1,222,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. PFG Investments LLC acquired a new position in Amcor in the 4th quarter valued at about $262,000. Vanguard Group Inc. boosted its stake in shares of Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock worth $945,222,000 after purchasing an additional 1,845,627 shares during the last quarter. Code Waechter LLC boosted its stake in shares of Amcor by 105.1% during the 4th quarter. Code Waechter LLC now owns 54,113 shares of the company’s stock worth $451,000 after purchasing an additional 27,725 shares during the last quarter. Mountain Hill Investment Partners Corp. grew its holdings in shares of Amcor by 22.4% during the fourth quarter. Mountain Hill Investment Partners Corp. now owns 858,620 shares of the company’s stock worth $7,161,000 after buying an additional 157,300 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Amcor during the fourth quarter worth about $459,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $47.29 on Wednesday. The company’s fifty day simple moving average is $43.07 and its 200-day simple moving average is $42.56. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The company has a market cap of $21.86 billion, a PE ratio of 33.07, a P/E/G ratio of 1.48 and a beta of 0.62.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.04. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.05 billion. As a group, equities research analysts anticipate that Amcor PLC will post 3.97 EPS for the current year.

Analyst Ratings Changes

AMCR has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Wells Fargo & Company set a $43.00 target price on shares of Amcor and gave the stock an “equal weight” rating in a research report on Wednesday, July 15th. UBS Group assumed coverage on shares of Amcor in a research note on Tuesday. They issued a “buy” rating and a $56.00 target price for the company. Truist Financial reiterated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, BMO Capital Markets began coverage on Amcor in a research note on Thursday, July 16th. They set a “market perform” rating and a $47.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and an average price target of $48.74.

Amcor Company Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.