Rhumbline Advisers Buys 256,846 Shares of Amcor plc (NYSE:AMCR)

Rhumbline Advisers boosted its stake in shares of Amcor plc (NYSE:AMCRGet Rating) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,568,311 shares of the company’s stock after purchasing an additional 256,846 shares during the period. Rhumbline Advisers’ holdings in Amcor were worth $31,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMCR. Cetera Investment Advisers increased its holdings in Amcor by 48.8% during the second quarter. Cetera Investment Advisers now owns 112,806 shares of the company’s stock valued at $1,402,000 after buying an additional 37,014 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in Amcor by 9.6% during the second quarter. Cetera Advisor Networks LLC now owns 60,452 shares of the company’s stock valued at $751,000 after buying an additional 5,294 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Amcor during the second quarter valued at approximately $543,000. Checchi Capital Advisers LLC increased its holdings in Amcor by 14.3% during the second quarter. Checchi Capital Advisers LLC now owns 19,002 shares of the company’s stock valued at $246,000 after buying an additional 2,373 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Amcor by 2.0% during the second quarter. O Shaughnessy Asset Management LLC now owns 3,421,611 shares of the company’s stock valued at $42,530,000 after buying an additional 65,957 shares during the last quarter. Institutional investors own 47.76% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of a number of research reports. Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating in a report on Thursday, October 13th. TheStreet raised shares of Amcor from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 4th. Macquarie cut shares of Amcor from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 18th. Finally, Jefferies Financial Group cut shares of Amcor from a “hold” rating to an “underperform” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.15.

Insider Buying and Selling at Amcor

In other news, insider Eric V. Roegner sold 1,035,748 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $12.58, for a total value of $13,029,709.84. Following the completion of the sale, the insider now owns 278,308 shares in the company, valued at approximately $3,501,114.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Michael J. Zacka sold 1,429,959 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $12.15, for a total value of $17,374,001.85. Following the completion of the sale, the insider now owns 209,115 shares in the company, valued at approximately $2,540,747.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric V. Roegner sold 1,035,748 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $12.58, for a total transaction of $13,029,709.84. Following the completion of the sale, the insider now owns 278,308 shares of the company’s stock, valued at approximately $3,501,114.64. The disclosure for this sale can be found here. Insiders sold 2,875,352 shares of company stock worth $35,464,186 over the last 90 days. 0.61% of the stock is owned by insiders.

Amcor Price Performance

AMCR stock opened at $12.08 on Thursday. Amcor plc has a 52 week low of $10.42 and a 52 week high of $13.60. The company has a quick ratio of 0.71, a current ratio of 1.27 and a debt-to-equity ratio of 1.73. The company has a fifty day simple moving average of $11.27 and a two-hundred day simple moving average of $12.13. The firm has a market capitalization of $17.99 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 3.87 and a beta of 0.79.

Amcor (NYSE:AMCRGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Amcor had a net margin of 5.63% and a return on equity of 28.47%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.58 billion. Analysts anticipate that Amcor plc will post 0.78 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Wednesday, November 23rd will be given a dividend of $0.1225 per share. The ex-dividend date is Tuesday, November 22nd. This represents a $0.49 annualized dividend and a yield of 4.06%. This is a positive change from Amcor’s previous quarterly dividend of $0.12. Amcor’s dividend payout ratio (DPR) is 85.71%.

Amcor Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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