Silvercrest Asset Management Group LLC Sells 2,722 Shares of Amcor plc (NYSE:AMCR)

Silvercrest Asset Management Group LLC cut its stake in shares of Amcor plc (NYSE:AMCR) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,313 shares of the company’s stock after selling 2,722 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Amcor were worth $106,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the last quarter. Quarry LP lifted its stake in shares of Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after acquiring an additional 3,551 shares during the period. Huntington National Bank lifted its stake in shares of Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after acquiring an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor in the fourth quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Amcor in the fourth quarter worth approximately $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Amcor Trading Down 1.2%

NYSE:AMCR opened at $9.19 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.96 and a beta of 0.78. The firm has a fifty day simple moving average of $9.37 and a two-hundred day simple moving average of $9.75. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. Analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Thursday, May 22nd. Amcor’s payout ratio is 91.07%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, Raymond James initiated coverage on Amcor in a research note on Tuesday, April 22nd. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.31.

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.