Ilmarinen Mutual Pension Insurance Co Makes New Investment in Amcor PLC $AMCR

Ilmarinen Mutual Pension Insurance Co acquired a new position in Amcor PLC (NYSE:AMCR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 300,000 shares of the company’s stock, valued at approximately $2,502,000.

A number of other large investors have also recently made changes to their positions in AMCR. Brown Lisle Cummings Inc. boosted its stake in shares of Amcor by 137.9% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. Larson Financial Group LLC lifted its holdings in Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after buying an additional 1,257 shares in the last quarter. N.E.W. Advisory Services LLC raised its holdings in shares of Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after purchasing an additional 373 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Amcor in the 2nd quarter valued at about $36,000. Finally, Huntington National Bank raised its holdings in shares of Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after purchasing an additional 2,020 shares in the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMCR has been the subject of several recent research reports. Weiss Ratings upgraded shares of Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup reduced their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Truist Financial restated a “buy” rating and set a $51.00 price target (up from $50.00) on shares of Amcor in a research note on Thursday, May 7th. Robert W. Baird set a $54.00 price objective on shares of Amcor in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. One research 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’s stock. According to data from MarketBeat, Amcor presently has an average rating of “Moderate Buy” and an average target price of $49.33.

Amcor Stock Performance

AMCR opened at $38.87 on Friday. The firm’s fifty day simple moving average is $39.45 and its two-hundred day simple moving average is $42.27. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.19 and a beta of 0.63. Amcor PLC has a 52-week low of $36.25 and a 52-week high of $50.94.

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

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.7%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is presently 181.82%.

Amcor Company Profile

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.