Gamco Investors INC. ET AL Sells 518,006 Shares of Amcor PLC $AMCR

Gamco Investors INC. ET AL lowered its position in Amcor PLC (NYSE:AMCR) by 80.0% in the 1st quarter, Holdings Channel reports. The fund owned 129,474 shares of the company’s stock after selling 518,006 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Amcor were worth $5,147,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Capital International Investors purchased a new position in shares of Amcor during the fourth quarter valued at approximately $354,227,000. Norges Bank purchased a new position in shares of Amcor during the fourth quarter valued at approximately $308,724,000. AQR Capital Management LLC lifted its position in Amcor by 398.6% during the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Amcor during the fourth quarter valued at approximately $103,713,000. Finally, Invesco Ltd. boosted its holdings in Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after purchasing an additional 10,846,351 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Performance

Shares of NYSE AMCR opened at $44.60 on Monday. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $41.11 and a 200 day moving average of $42.23.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company’s quarterly revenue was up 77.4% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. On average, research analysts anticipate that Amcor PLC will post 3.97 earnings per share for the current year.

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Thursday, May 28th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is currently 181.82%.

Analyst Ratings Changes

A number of equities research analysts have commented on AMCR shares. JPMorgan Chase & Co. cut their target price 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. Bank of America increased their price target on Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, BMO Capital Markets began coverage on Amcor in a report on Thursday, July 16th. They issued a “market perform” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Amcor currently has an average rating of “Moderate Buy” and a consensus target price of $48.08.

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.