Two Sigma Advisers LP Makes New Investment in Amcor plc (NYSE:AMCR)

Two Sigma Advisers LP bought a new position in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,242,200 shares of the company’s stock, valued at approximately $21,099,000. Two Sigma Advisers LP owned approximately 0.16% of Amcor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in AMCR. Barclays PLC increased its position in Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the period. Park Avenue Securities LLC grew its position in shares of Amcor by 13.6% during the fourth quarter. Park Avenue Securities LLC now owns 19,571 shares of the company’s stock worth $184,000 after acquiring an additional 2,348 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Amcor during the fourth quarter worth approximately $127,000. HB Wealth Management LLC increased its holdings in shares of Amcor by 41.0% in the 4th quarter. HB Wealth Management LLC now owns 68,466 shares of the company’s stock valued at $644,000 after acquiring an additional 19,915 shares during the period. Finally, Gradient Investments LLC purchased a new stake in Amcor in the 4th quarter valued at $471,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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. 0.60% of the stock is currently owned by corporate insiders.

Amcor Stock Down 1.4%

Shares of NYSE:AMCR opened at $9.31 on Wednesday. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm’s 50-day simple moving average is $9.39 and its 200-day simple moving average is $9.75. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research 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 will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.48%. Amcor’s dividend payout ratio (DPR) is presently 91.07%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AMCR shares. Raymond James initiated coverage on shares of Amcor in a research note on Tuesday, April 22nd. They set a “market perform” rating for the company. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Truist Financial lowered their price target on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Four 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.31.

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.