AssuredPartners Investment Advisors LLC Invests $580,000 in Amcor plc (NYSE:AMCR)

AssuredPartners Investment Advisors LLC acquired a new stake in shares of Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,618 shares of the company’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NEOS Investment Management LLC lifted its holdings in shares of Amcor by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 88,013 shares of the company’s stock valued at $828,000 after buying an additional 21,157 shares during the period. JPMorgan Chase & Co. lifted its holdings in Amcor by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 8,881,049 shares of the company’s stock valued at $83,571,000 after acquiring an additional 86,456 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Amcor by 10.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,894,364 shares of the company’s stock worth $27,004,000 after purchasing an additional 278,719 shares during the last quarter. Korea Investment CORP grew its stake in shares of Amcor by 51.9% during the 4th quarter. Korea Investment CORP now owns 1,069,675 shares of the company’s stock valued at $10,066,000 after purchasing an additional 365,273 shares during the period. Finally, Zions Bancorporation N.A. increased its position in shares of Amcor by 9.8% during the 4th quarter. Zions Bancorporation N.A. now owns 313,377 shares of the company’s stock valued at $2,949,000 after purchasing an additional 27,843 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of Amcor stock opened at $9.72 on Friday. The company has a market capitalization of $14.04 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.96 and a beta of 0.80. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.25. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the firm earned $0.09 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.25%. Amcor’s payout ratio is 92.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMCR shares. UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Truist Financial raised Amcor from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $12.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

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.