Man Group plc Acquires Shares of 261,619 Amcor plc (NYSE:AMCR)

Man Group plc acquired a new stake in shares of Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 261,619 shares of the company’s stock, valued at approximately $2,462,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Amcor by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company’s stock valued at $555,064,000 after acquiring an additional 1,249,868 shares in the last quarter. Barclays PLC increased its holdings in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Amcor during the fourth quarter valued at $2,605,000. Empowered Funds LLC increased its holdings in shares of Amcor by 25.9% during the fourth quarter. Empowered Funds LLC now owns 167,952 shares of the company’s stock valued at $1,580,000 after acquiring an additional 34,573 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock valued at $69,000 after acquiring an additional 7,249 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Activity

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMCR. Truist Financial reduced 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. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James began coverage on Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and an average price target of $11.31.

Amcor Price Performance

Shares of NYSE:AMCR opened at $9.04 on Friday. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The business has a 50-day simple moving average of $9.36 and a two-hundred day simple moving average of $9.74. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last issued its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the previous year, the firm earned $0.13 EPS. Amcor’s revenue was down 2.3% on a year-over-year basis. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Thursday, May 22nd. Amcor’s payout ratio is currently 91.07%.

About Amcor

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.