Brandywine Global Investment Management LLC Acquires 344,378 Shares of Amcor plc (NYSE:AMCR)

Brandywine Global Investment Management LLC increased its holdings in Amcor plc (NYSE:AMCR) by 36.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,286,088 shares of the company’s stock after buying an additional 344,378 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.09% of Amcor worth $12,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Allstate Corp purchased a new stake in Amcor during the fourth quarter valued at approximately $413,000. DnB Asset Management AS boosted its position in shares of Amcor by 4.5% in the fourth quarter. DnB Asset Management AS now owns 277,427 shares of the company’s stock worth $2,611,000 after purchasing an additional 12,036 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Amcor by 0.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,948,702 shares of the company’s stock valued at $37,157,000 after acquiring an additional 29,635 shares during the period. Norges Bank bought a new stake in Amcor during the 4th quarter valued at approximately $6,223,000. Finally, AssuredPartners Investment Advisors LLC bought a new position in shares of Amcor during the fourth quarter worth $580,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Activity

In other news, Director Achal Agarwal bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost 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. The trade was a 12.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.70 on Tuesday. The firm has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $10.22. 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 has a market capitalization of $14.01 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48.

Amcor (NYSE:AMCR) last issued its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business 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 posted $0.09 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.26%. Amcor’s dividend payout ratio is currently 92.73%.

Analyst Ratings Changes

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

Amcor Company 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.