OVERSEA CHINESE BANKING Corp Ltd Reduces Position in Amcor PLC $AMCR

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Amcor PLC (NYSE:AMCR) by 20.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 572,888 shares of the company’s stock after selling 150,000 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Amcor were worth $5,265,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AMCR. AdvisorNet Financial Inc grew its holdings in shares of Amcor by 839.8% during the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after buying an additional 2,704 shares in the last quarter. Adirondack Trust Co. acquired a new position in shares of Amcor during the 2nd quarter valued at about $29,000. HM Payson & Co. acquired a new position in shares of Amcor during the 1st quarter valued at about $30,000. Brentview Investment Management LLC acquired a new position in shares of Amcor during the 1st quarter valued at about $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Amcor during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 1.0%

NYSE AMCR opened at $8.15 on Monday. The firm’s 50-day moving average is $8.25 and its two-hundred day moving average is $8.96. Amcor PLC has a 12 month low of $7.81 and a 12 month high of $11.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The stock has a market capitalization of $18.78 billion, a P/E ratio of 22.63, a PEG ratio of 1.16 and a beta of 0.73.

Amcor (NYSE:AMCR) last posted its earnings results on Thursday, August 14th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company’s quarterly revenue was up 43.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Friday, September 5th. Amcor’s dividend payout ratio is presently 141.67%.

Insider Buying and Selling at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent research reports. Truist Financial set a $11.00 price target on shares of Amcor and gave the company a “buy” rating in a research report on Friday, July 11th. The Goldman Sachs Group initiated coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Robert W. Baird lowered their price target on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research report on Friday. Finally, Jefferies Financial Group started coverage on shares of Amcor in a research report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.84.

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.