Amcor plc (NYSE:AMCR) Shares Sold by American Trust

American Trust cut its holdings in shares of Amcor plc (NYSE:AMCRGet Rating) by 10.2% during the first quarter, HoldingsChannel.com reports. The fund owned 11,960 shares of the company’s stock after selling 1,356 shares during the period. American Trust’s holdings in Amcor were worth $136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its stake in shares of Amcor by 24,433.3% in the 1st quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company’s stock valued at $42,000 after acquiring an additional 3,665 shares during the period. Cornerstone Advisory LLC acquired a new position in shares of Amcor in the fourth quarter valued at approximately $46,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Amcor by 78.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,493 shares of the company’s stock valued at $51,000 after purchasing an additional 1,982 shares in the last quarter. Riverview Trust Co grew its holdings in Amcor by 80.1% during the 1st quarter. Riverview Trust Co now owns 5,389 shares of the company’s stock worth $61,000 after acquiring an additional 2,396 shares in the last quarter. Finally, CWM LLC grew its holdings in Amcor by 59.3% during the 1st quarter. CWM LLC now owns 5,646 shares of the company’s stock worth $64,000 after acquiring an additional 2,102 shares in the last quarter. 47.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMCR has been the subject of several research reports. CLSA initiated coverage on shares of Amcor in a research report on Tuesday, July 19th. They issued a “buy” rating for the company. Jefferies Financial Group downgraded shares of Amcor from a “hold” rating to an “underperform” rating in a research report on Thursday, August 18th. Macquarie downgraded shares of Amcor from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 18th. Finally, Morgan Stanley downgraded shares of Amcor from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 4th. 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, Amcor currently has an average rating of “Hold” and an average target price of $12.15.

Insider Activity

In related news, insider Louis Fred Stephan sold 29,762 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.63, for a total value of $375,894.06. Following the sale, the insider now directly owns 108,598 shares of the company’s stock, valued at approximately $1,371,592.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Louis Fred Stephan sold 29,762 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.63, for a total value of $375,894.06. Following the sale, the insider now directly owns 108,598 shares of the company’s stock, valued at approximately $1,371,592.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ronald Stephen Delia sold 177,185 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $12.41, for a total transaction of $2,198,865.85. Following the completion of the sale, the chief executive officer now directly owns 1,700,000 shares in the company, valued at $21,097,000. The disclosure for this sale can be found here. Insiders sold 2,905,114 shares of company stock worth $35,840,080 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Amcor Stock Performance

Shares of AMCR opened at $11.76 on Tuesday. The company has a 50-day simple moving average of $12.48 and a 200-day simple moving average of $12.25. The company has a quick ratio of 0.67, a current ratio of 1.15 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $17.51 billion, a PE ratio of 22.19, a P/E/G ratio of 2.32 and a beta of 0.77. Amcor plc has a 52-week low of $10.66 and a 52-week high of $13.60.

Amcor (NYSE:AMCRGet Rating) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.82 billion. Amcor had a net margin of 5.53% and a return on equity of 27.37%. During the same quarter last year, the firm posted $0.23 EPS. Equities research analysts predict that Amcor plc will post 0.81 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Thursday, September 8th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.08%. Amcor’s dividend payout ratio is presently 90.57%.

About Amcor

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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.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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