Park Avenue Securities LLC Acquires 8,761 Shares of Amcor plc (NYSE:AMCR)

Park Avenue Securities LLC boosted its position in Amcor plc (NYSE:AMCRGet Rating) by 57.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,956 shares of the company’s stock after buying an additional 8,761 shares during the period. Park Avenue Securities LLC’s holdings in Amcor were worth $257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Concord Wealth Partners lifted its holdings in Amcor by 23.4% in the second quarter. Concord Wealth Partners now owns 4,656 shares of the company’s stock valued at $58,000 after buying an additional 882 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Amcor by 46.0% in the third quarter. Hexagon Capital Partners LLC now owns 3,536 shares of the company’s stock valued at $38,000 after buying an additional 1,114 shares during the period. State of Michigan Retirement System lifted its holdings in Amcor by 0.3% in the third quarter. State of Michigan Retirement System now owns 406,676 shares of the company’s stock valued at $4,364,000 after buying an additional 1,300 shares during the period. First Horizon Advisors Inc. lifted its holdings in Amcor by 81.2% in the second quarter. First Horizon Advisors Inc. now owns 3,076 shares of the company’s stock valued at $37,000 after buying an additional 1,378 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Amcor by 6.8% in the second quarter. Captrust Financial Advisors now owns 22,390 shares of the company’s stock valued at $278,000 after buying an additional 1,420 shares during the period. Institutional investors and hedge funds own 46.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Nicholas T. Long sold 5,372 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $12.40, for a total value of $66,612.80. Following the sale, the director now owns 29,769 shares in the company, valued at approximately $369,135.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amcor news, Director Nicholas T. Long sold 5,372 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $12.40, for a total value of $66,612.80. Following the completion of the sale, the director now directly owns 29,769 shares of the company’s stock, valued at approximately $369,135.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Louis Fred Stephan sold 497,022 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $11.98, for a total transaction of $5,954,323.56. Following the completion of the sale, the insider now directly owns 112,464 shares of the company’s stock, valued at $1,347,318.72. The disclosure for this sale can be found here. Insiders have sold 1,080,955 shares of company stock worth $13,145,237 in the last quarter. Insiders own 0.61% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $12.00 on Tuesday. The firm’s 50-day moving average price is $12.09 and its 200-day moving average price is $11.96. Amcor plc has a 1-year low of $10.42 and a 1-year high of $13.60. The firm has a market capitalization of $17.87 billion, a P/E ratio of 21.43, a P/E/G ratio of 3.83 and a beta of 0.79. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 1.73.

Amcor (NYSE:AMCRGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Amcor had a return on equity of 28.47% and a net margin of 5.63%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.58 billion. Equities research analysts anticipate that Amcor plc will post 0.78 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 13th. Investors of record on Wednesday, November 23rd were issued a $0.1225 dividend. This represents a $0.49 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Tuesday, November 22nd. This is a positive change from Amcor’s previous quarterly dividend of $0.12. Amcor’s dividend payout ratio is currently 87.50%.

Wall Street Analyst Weigh In

AMCR has been the topic of several recent analyst reports. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating in a report on Thursday, October 13th. TheStreet upgraded shares of Amcor from a “c+” rating to a “b-” rating in a report on Thursday, November 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Amcor presently has an average rating of “Hold” and a consensus target price of $12.15.

Amcor Company Profile

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Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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