Nordea Investment Management AB Acquires 59,753 Shares of Amcor PLC $AMCR

Nordea Investment Management AB boosted its holdings in Amcor PLC (NYSE:AMCR) by 83.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,971 shares of the company’s stock after purchasing an additional 59,753 shares during the quarter. Nordea Investment Management AB’s holdings in Amcor were worth $1,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMCR. AdvisorNet Financial Inc boosted its stake in Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares during the period. Adirondack Trust Co. bought a new position in Amcor in the 2nd quarter worth approximately $29,000. HM Payson & Co. bought a new position in Amcor in the 1st quarter worth approximately $30,000. Brentview Investment Management LLC bought a new position in Amcor in the 1st quarter worth approximately $31,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in Amcor in the 2nd quarter worth approximately $33,000. 45.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought 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 approximately $85,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMCR shares. Wells Fargo & Company dropped their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, October 15th. UBS Group upgraded Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Royal Bank Of Canada started coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating for the company. Truist Financial set a $11.00 target price on Amcor and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on Amcor in a research report on Friday, September 19th. They set an “overweight” rating and a $10.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Amcor presently has an average rating of “Moderate Buy” and a consensus target price of $10.84.

Amcor Stock Up 1.2%

NYSE AMCR opened at $8.24 on Friday. 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 company has a market capitalization of $18.98 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.16 and a beta of 0.73. Amcor PLC has a one year low of $7.81 and a one year high of $11.24. The stock has a 50 day moving average price of $8.27 and a 200-day moving average price of $8.96.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s quarterly revenue was up 43.8% on a year-over-year basis. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, equities analysts predict that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 6.2%. The ex-dividend date was Friday, September 5th. Amcor’s dividend payout ratio is presently 141.67%.

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.