Frank Rimerman Advisors LLC Makes New $682,000 Investment in Amcor PLC $AMCR

Frank Rimerman Advisors LLC bought a new position in Amcor PLC (NYSE:AMCR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,162 shares of the company’s stock, valued at approximately $682,000.

Other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC grew its position in Amcor by 377.9% during the second quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after acquiring an additional 2,222 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after purchasing an additional 2,704 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in shares of Amcor during the 1st quarter worth about $31,000. Adirondack Trust Co. acquired a new stake in Amcor during the 2nd quarter worth approximately $29,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Amcor during the 2nd quarter worth approximately $33,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Trading Down 0.5%

Shares of NYSE:AMCR opened at $8.42 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $8.18 and its 200 day moving average price is $8.82. The company has a market cap of $19.40 billion, a PE ratio of 23.38, a P/E/G ratio of 1.14 and a beta of 0.72. Amcor PLC has a fifty-two week low of $7.66 and a fifty-two week high of $10.70.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the previous year, the firm earned $0.16 EPS. Amcor’s revenue was up 71.3% on a year-over-year basis. Sell-side analysts anticipate that Amcor PLC will post 0.74 earnings per share for the current 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 paid a dividend of $0.13 per share. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.2%. Amcor’s dividend payout ratio (DPR) is 152.94%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $11.50 price target on shares of Amcor in a report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Robert W. Baird dropped their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. The Goldman Sachs Group assumed coverage on Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Amcor currently has an average rating of “Moderate Buy” and an average price target of $10.91.

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.