Crestline Management LP Buys Shares of 147,790 Amcor plc (NYSE:AMCR)

Crestline Management LP purchased a new position in shares of Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 147,790 shares of the company’s stock, valued at approximately $1,391,000.

Several other large investors also recently modified their holdings of AMCR. Caption Management LLC purchased a new stake in Amcor in the fourth quarter worth $2,060,000. Centiva Capital LP grew its stake in shares of Amcor by 89.0% during the 4th quarter. Centiva Capital LP now owns 180,577 shares of the company’s stock worth $1,699,000 after acquiring an additional 85,030 shares during the period. Bridgefront Capital LLC purchased a new stake in Amcor in the 4th quarter worth about $618,000. BNP Paribas Financial Markets raised its stake in Amcor by 39.2% in the 4th quarter. BNP Paribas Financial Markets now owns 3,053,774 shares of the company’s stock valued at $28,736,000 after acquiring an additional 860,446 shares during the period. Finally, AXA S.A. lifted its holdings in Amcor by 102.2% during the fourth quarter. AXA S.A. now owns 353,594 shares of the company’s stock valued at $3,327,000 after purchasing an additional 178,711 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Buying and Selling

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMCR. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Raymond James began coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Finally, Truist Financial cut their price target on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.31.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.18 on Friday. The stock’s 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $9.85. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a market capitalization of $13.26 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.96 and a beta of 0.78. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the business earned $0.13 earnings per share. Amcor’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor’s dividend payout ratio is currently 91.07%.

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.