State of Alaska Department of Revenue raised its position in shares of Amcor plc (NYSE:AMCR) by 311.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,863 shares of the company’s stock after buying an additional 218,683 shares during the quarter. State of Alaska Department of Revenue’s holdings in Amcor were worth $2,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMCR. Private Trust Co. NA boosted its holdings in shares of Amcor by 6.3% in the 3rd quarter. Private Trust Co. NA now owns 24,511 shares of the company’s stock worth $238,000 after purchasing an additional 1,461 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Amcor in the 2nd quarter worth approximately $3,692,000. Atria Investments LLC purchased a new position in shares of Amcor in the 2nd quarter worth approximately $172,000. Keudell Morrison Wealth Management purchased a new position in shares of Amcor in the 2nd quarter worth approximately $115,000. Finally, BlackRock Inc. purchased a new position in shares of Amcor in the 2nd quarter worth approximately $745,182,000. Institutional investors and hedge funds own 26.56% of the company’s stock.

In other Amcor news, insider Louis Fred Stephan sold 69,787 shares of Amcor stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.27, for a total transaction of $716,712.49. Insiders own 0.23% of the company’s stock.

AMCR has been the subject of a number of recent research reports. Goldman Sachs Group initiated coverage on Amcor in a report on Wednesday, June 12th. They issued a “sell” rating for the company. Citigroup initiated coverage on Amcor in a research note on Thursday, June 20th. They set a “buy” rating and a $13.00 price target for the company. Finally, ValuEngine raised Amcor from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

NYSE AMCR traded up $0.11 on Wednesday, reaching $9.34. 20,073 shares of the stock traded hands, compared to its average volume of 5,549,496. The company has a current ratio of 1.15, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94. The stock’s fifty day simple moving average is $9.72. The company has a market cap of $15.33 billion, a P/E ratio of 15.34 and a beta of 0.76. Amcor plc has a 12 month low of $8.75 and a 12 month high of $11.77.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Tuesday, September 10th. Amcor’s dividend payout ratio (DPR) is presently 78.69%.

About Amcor

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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