Brandywine Global Investment Management LLC Increases Stake in Amcor PLC $AMCR

Brandywine Global Investment Management LLC grew its stake in shares of Amcor PLC (NYSE:AMCR) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,931,359 shares of the company’s stock after purchasing an additional 101,779 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.13% of Amcor worth $17,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. NewSquare Capital LLC raised its holdings in Amcor by 377.9% during the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after buying an additional 2,222 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Amcor by 839.8% in the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after acquiring an additional 2,704 shares during the period. Brentview Investment Management LLC purchased a new position in shares of Amcor in the first quarter valued at about $31,000. Adirondack Trust Co. bought a new position in shares of Amcor during the second quarter valued at about $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Amcor during the second quarter worth about $33,000. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. 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 on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $11.50 price objective on shares of Amcor in a report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Robert W. Baird decreased their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Finally, The Goldman Sachs Group started coverage on shares of Amcor in a report on Wednesday, September 10th. They issued a “buy” rating on the stock. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.91.

Amcor Trading Up 1.4%

Shares of NYSE AMCR opened at $8.48 on Friday. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.70. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. The firm has a 50-day moving average of $8.18 and a 200 day moving average of $8.81. The stock has a market cap of $19.55 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last announced its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business’s revenue for the quarter was up 71.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, sell-side analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 6.1%. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 28th. Amcor’s dividend payout ratio is presently 152.94%.

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.