Hi Line Capital Management LLC Purchases 36,631 Shares of Amcor PLC $AMCR

Hi Line Capital Management LLC lifted its position in Amcor PLC (NYSE:AMCR) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 631,578 shares of the company’s stock after buying an additional 36,631 shares during the period. Amcor accounts for 1.8% of Hi Line Capital Management LLC’s portfolio, making the stock its 26th biggest position. Hi Line Capital Management LLC’s holdings in Amcor were worth $5,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Amcor by 7.2% in the third quarter. State Street Corp now owns 139,077,241 shares of the company’s stock valued at $1,137,652,000 after acquiring an additional 9,375,255 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after acquiring an additional 1,845,627 shares in the last quarter. M&G PLC raised its holdings in shares of Amcor by 26.6% in the third quarter. M&G PLC now owns 108,333,984 shares of the company’s stock valued at $866,672,000 after acquiring an additional 22,737,979 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock valued at $385,373,000 after acquiring an additional 10,846,351 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Amcor by 103.9% in the third quarter. Federated Hermes Inc. now owns 39,344,317 shares of the company’s stock valued at $321,837,000 after acquiring an additional 20,052,979 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMCR. JPMorgan Chase & Co. decreased their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Citigroup decreased their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a report on Friday, May 8th. Robert W. Baird set a $54.00 target price on Amcor in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Amcor Price Performance

AMCR opened at $38.14 on Thursday. The business’s 50-day moving average is $39.74 and its two-hundred day moving average is $42.36. Amcor PLC has a 1 year low of $36.25 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.44 and a quick ratio of 0.95. The firm has a market capitalization of $17.63 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 77.4% compared to the same quarter last year. Research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.8%. The ex-dividend date is Thursday, May 28th. Amcor’s payout ratio is 181.82%.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.