Metis Global Partners LLC Purchases 124,600 Shares of Amcor PLC $AMCR

Metis Global Partners LLC grew its holdings in Amcor PLC (NYSE:AMCR) by 81.0% in the second quarter, HoldingsChannel reports. The fund owned 278,392 shares of the company’s stock after buying an additional 124,600 shares during the period. Metis Global Partners LLC’s holdings in Amcor were worth $2,558,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AMCR. Vanguard Group Inc. raised its stake in Amcor by 15.5% in the 1st quarter. Vanguard Group Inc. now owns 68,105,901 shares of the company’s stock worth $660,627,000 after purchasing an additional 9,119,308 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Amcor by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 49,831,643 shares of the company’s stock worth $483,367,000 after purchasing an additional 3,778,714 shares during the period. Invesco Ltd. raised its position in shares of Amcor by 9.5% in the first quarter. Invesco Ltd. now owns 33,314,287 shares of the company’s stock valued at $323,149,000 after buying an additional 2,889,166 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Amcor by 9.8% in the first quarter. Wellington Management Group LLP now owns 30,707,205 shares of the company’s stock valued at $297,860,000 after buying an additional 2,735,320 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Amcor by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 19,191,544 shares of the company’s stock worth $186,142,000 after buying an additional 490,827 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMCR shares. Royal Bank Of Canada initiated coverage on Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating for the company. The Goldman Sachs Group initiated coverage on Amcor in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective on the stock in a research note on Friday, October 10th. Wells Fargo & Company dropped their target price on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target for the company. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.84.

Insider Buying and Selling

In other news, Director Stephen E. Sterrett purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the purchase, the director owned 10,000 shares of the company’s stock, valued at $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Amcor Trading Up 1.6%

Shares of Amcor stock opened at $8.36 on Monday. The firm’s 50 day moving average is $8.16 and its 200 day moving average is $8.87. The firm has a market capitalization of $19.26 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.70. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 1.18.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is currently 152.94%.

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.