Vise Technologies Inc. Purchases Shares of 143,243 Amcor PLC $AMCR

Vise Technologies Inc. acquired a new stake in Amcor PLC (NYSE:AMCR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 143,243 shares of the company’s stock, valued at approximately $1,316,000.

Several other large investors also recently made changes to their positions in AMCR. State of Alaska Department of Revenue boosted its position in Amcor by 51.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock valued at $4,266,000 after buying an additional 158,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Amcor by 71.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock worth $22,483,000 after purchasing an additional 1,019,306 shares during the period. Sound Income Strategies LLC boosted its stake in Amcor by 54,855.7% in the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock valued at $5,561,000 after acquiring an additional 603,961 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Amcor by 63.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,012,038 shares of the company’s stock worth $46,061,000 after purchasing an additional 1,946,147 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Amcor during the second quarter worth $463,000. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price on the stock in a report on Friday, October 10th. Royal Bank Of Canada began coverage on Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating on the stock. JPMorgan Chase & Co. began coverage on Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 target price for the company. Wells Fargo & Company cut their price objective on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Finally, Morgan Stanley reissued an “overweight” rating and set a $11.50 target price on shares of Amcor in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.91.

Insider Buying and Selling at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the acquisition, the director owned 10,000 shares in the company, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by corporate insiders.

Amcor Trading Up 2.6%

Amcor stock opened at $8.63 on Thursday. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 1.14 and a beta of 0.72. The firm has a 50-day moving average of $8.16 and a 200-day moving average of $8.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. Amcor PLC has a one year low of $7.66 and a one year high of $10.70.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the prior year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 71.3% compared to the same quarter last year. On average, equities analysts expect that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be given a $0.13 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.0%. Amcor’s payout ratio is 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.