Voloridge Investment Management LLC Purchases New Stake in Amcor plc (NYSE:AMCR)

Voloridge Investment Management LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 506,368 shares of the company’s stock, valued at approximately $4,765,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Amcor by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock worth $555,064,000 after buying an additional 1,249,868 shares during the last quarter. Barclays PLC raised its position in shares of Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Amcor during the 4th quarter valued at approximately $2,605,000. Empowered Funds LLC lifted its stake in Amcor by 25.9% during the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company’s stock worth $1,580,000 after purchasing an additional 34,573 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Amcor by 11,326.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after purchasing an additional 7,249 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Amcor Price Performance

NYSE AMCR opened at $8.96 on Tuesday. The company has a 50-day moving average price of $9.32 and a two-hundred day moving average price of $9.72. Amcor plc has a 52 week low of $8.37 and a 52 week high of $11.48. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be given a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.70%. Amcor’s dividend payout ratio is presently 91.07%.

Amcor Company 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.