Intech Investment Management LLC Has $2 Million Stake in Amcor PLC $AMCR

Intech Investment Management LLC reduced its holdings in Amcor PLC (NYSE:AMCR) by 7.3% during the 2nd quarter, Holdings Channel reports. The fund owned 217,828 shares of the company’s stock after selling 17,085 shares during the quarter. Intech Investment Management LLC’s holdings in Amcor were worth $2,002,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMCR. State of Alaska Department of Revenue lifted its stake in Amcor by 51.6% in the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock valued at $4,266,000 after buying an additional 158,082 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Amcor by 71.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock worth $22,483,000 after buying an additional 1,019,306 shares during the period. Sound Income Strategies LLC increased its stake in shares of Amcor by 54,855.7% in the 2nd quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock valued at $5,561,000 after acquiring an additional 603,961 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Amcor by 63.5% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,012,038 shares of the company’s stock valued at $46,061,000 after acquiring an additional 1,946,147 shares during the period. Finally, Focus Partners Advisor Solutions LLC bought a new position in Amcor during the 2nd quarter worth approximately $463,000. 45.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMCR has been the subject of a number of analyst reports. Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price objective for the company in a report on Friday, October 10th. Wells Fargo & Company reduced their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating for the company. Robert W. Baird dropped their price objective on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and an average target price of $10.91.

Amcor Stock Up 1.4%

Amcor stock opened at $8.48 on Friday. The stock has a market capitalization of $19.55 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Amcor PLC has a twelve month low of $7.66 and a twelve month high of $10.70. 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 has a 50 day moving average of $8.18 and a 200-day moving average of $8.81.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The company 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 firm’s revenue was up 71.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, equities research analysts anticipate that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.1%. This is a boost from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, November 28th. Amcor’s dividend payout ratio is 152.94%.

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.