Bank of Montreal Can Sells 210,030 Shares of Amcor plc (NYSE:AMCR)

Bank of Montreal Can lowered its position in shares of Amcor plc (NYSE:AMCRGet Rating) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 724,894 shares of the company’s stock after selling 210,030 shares during the quarter. Bank of Montreal Can’s holdings in Amcor were worth $8,379,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AMCR. BlackRock Inc. grew its stake in Amcor by 0.8% during the fourth quarter. BlackRock Inc. now owns 101,926,773 shares of the company’s stock worth $1,224,142,000 after buying an additional 774,065 shares during the last quarter. Geode Capital Management LLC increased its holdings in Amcor by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 28,702,606 shares of the company’s stock valued at $343,819,000 after purchasing an additional 611,877 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Amcor by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,402,955 shares of the company’s stock valued at $269,060,000 after purchasing an additional 810,866 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Amcor by 2.0% during the fourth quarter. Invesco Ltd. now owns 19,223,963 shares of the company’s stock worth $230,880,000 after purchasing an additional 378,766 shares during the last quarter. Finally, Polaris Capital Management LLC increased its stake in shares of Amcor by 22.0% in the first quarter. Polaris Capital Management LLC now owns 16,278,372 shares of the company’s stock valued at $184,434,000 after buying an additional 2,930,000 shares in the last quarter. 47.76% of the stock is owned by institutional investors.

Amcor Price Performance

Shares of AMCR stock opened at $11.85 on Wednesday. The firm’s 50 day moving average price is $12.58 and its two-hundred day moving average price is $12.21. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.67 and a current ratio of 1.15. Amcor plc has a 52-week low of $10.66 and a 52-week high of $13.60. The stock has a market cap of $17.64 billion, a PE ratio of 22.36, a PEG ratio of 2.39 and a beta of 0.77.

Amcor (NYSE:AMCRGet Rating) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.82 billion. Amcor had a return on equity of 27.37% and a net margin of 5.53%. During the same period last year, the company earned $0.23 EPS. As a group, analysts forecast that Amcor plc will post 0.81 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Thursday, September 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.05%. The ex-dividend date is Wednesday, September 7th. Amcor’s payout ratio is 90.57%.

Insider Activity at Amcor

In related news, CFO Michael Casamento sold 204,960 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $12.29, for a total value of $2,518,958.40. Following the completion of the sale, the chief financial officer now owns 367,248 shares in the company, valued at approximately $4,513,477.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Amcor news, CFO Michael Casamento sold 204,960 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $12.29, for a total value of $2,518,958.40. Following the completion of the transaction, the chief financial officer now directly owns 367,248 shares of the company’s stock, valued at $4,513,477.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric V. Roegner sold 1,035,748 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $12.58, for a total value of $13,029,709.84. Following the completion of the sale, the insider now owns 278,308 shares of the company’s stock, valued at $3,501,114.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,270,470 shares of company stock worth $15,924,562. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMCR shares. TheStreet upgraded shares of Amcor from a “c” rating to a “b” rating in a research report on Friday, May 13th. CLSA assumed coverage on shares of Amcor in a research report on Tuesday, July 19th. They set a “buy” rating on the stock. Morgan Stanley lowered shares of Amcor from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 4th. Jefferies Financial Group downgraded Amcor from a “hold” rating to an “underperform” rating in a report on Thursday, August 18th. Finally, Macquarie cut Amcor from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.10.

Amcor Profile

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

Receive News & Ratings for Amcor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amcor and related companies with MarketBeat.com's FREE daily email newsletter.