79,041 Shares in Amcor PLC $AMCR Purchased by North Dakota State Investment Board

North Dakota State Investment Board acquired a new position in shares of Amcor PLC (NYSE:AMCR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 79,041 shares of the company’s stock, valued at approximately $659,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMCR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Amcor by 8.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,381 shares of the company’s stock worth $2,596,000 after purchasing an additional 20,757 shares during the last quarter. Focus Partners Wealth increased its position in shares of Amcor by 11.3% during the first quarter. Focus Partners Wealth now owns 43,137 shares of the company’s stock valued at $418,000 after acquiring an additional 4,396 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Amcor during the second quarter valued at about $138,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Amcor during the second quarter valued at about $6,426,000. Finally, CW Advisors LLC acquired a new stake in shares of Amcor during the second quarter valued at about $228,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Up 1.2%

Shares of AMCR stock opened at $38.56 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market capitalization of $17.83 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 1.15 and a beta of 0.63. The company has a 50 day moving average price of $39.67 and a 200 day moving average price of $42.35. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. Equities research analysts predict that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Thursday, May 28th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. Amcor’s payout ratio is 181.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMCR. JPMorgan Chase & Co. dropped their price target on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price target for the company. Robert W. Baird set a $54.00 price target on shares of Amcor in a research report on Wednesday, February 4th. Citigroup dropped their price target on shares of Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Morgan Stanley cut shares of Amcor from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.