Handelsbanken Fonder AB Buys 304,645 Shares of Amcor PLC $AMCR

Handelsbanken Fonder AB raised its stake in shares of Amcor PLC (NYSE:AMCR) by 115.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 568,200 shares of the company’s stock after purchasing an additional 304,645 shares during the period. Handelsbanken Fonder AB’s holdings in Amcor were worth $5,222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in Amcor by 5.3% in the second quarter. Farther Finance Advisors LLC now owns 20,689 shares of the company’s stock worth $190,000 after acquiring an additional 1,035 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of Amcor by 4.2% in the 2nd quarter. Rothschild Investment LLC now owns 26,179 shares of the company’s stock worth $241,000 after purchasing an additional 1,049 shares in the last quarter. South Dakota Investment Council increased its position in shares of Amcor by 6.6% during the 2nd quarter. South Dakota Investment Council now owns 19,302 shares of the company’s stock valued at $177,000 after purchasing an additional 1,202 shares during the last quarter. Private Trust Co. NA increased its position in shares of Amcor by 4.8% during the 2nd quarter. Private Trust Co. NA now owns 28,611 shares of the company’s stock valued at $263,000 after purchasing an additional 1,310 shares during the last quarter. Finally, ORG Partners LLC raised its holdings in shares of Amcor by 17.2% during the 2nd quarter. ORG Partners LLC now owns 10,262 shares of the company’s stock valued at $98,000 after buying an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Down 0.2%

Shares of AMCR opened at $8.48 on Tuesday. The stock has a market capitalization of $19.55 billion, a P/E ratio of 23.56, a PEG ratio of 1.14 and a beta of 0.72. Amcor PLC has a twelve month low of $7.66 and a twelve month high of $10.70. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The firm has a fifty day simple moving average of $8.19 and a two-hundred day simple moving average of $8.80.

Amcor (NYSE:AMCR) last posted its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same period in the prior year, the business posted $0.16 earnings per share. Amcor’s revenue for the quarter was up 71.3% on a year-over-year basis. On average, research analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 6.1%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 28th. Amcor’s payout ratio is presently 152.94%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $11.50 target price on shares of Amcor in a research note on Wednesday, November 12th. Robert W. Baird cut their price objective on shares of Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. JPMorgan Chase & Co. began coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a research report on Friday, October 10th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.91.

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.