Amalgamated Bank Reduces Holdings in Amcor plc (NYSE:AMCR)

Amalgamated Bank lowered its position in Amcor plc (NYSE:AMCR) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,658 shares of the company’s stock after selling 22,930 shares during the quarter. Amalgamated Bank’s holdings in Amcor were worth $3,419,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in Amcor by 5.5% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 100,361 shares of the company’s stock valued at $919,000 after acquiring an additional 5,255 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Amcor by 20.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 613,392 shares of the company’s stock worth $5,619,000 after purchasing an additional 103,963 shares during the last quarter. Mackenzie Financial Corp increased its stake in Amcor by 12.0% in the 3rd quarter. Mackenzie Financial Corp now owns 21,366 shares of the company’s stock worth $191,000 after buying an additional 2,297 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Amcor by 1.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 567,693 shares of the company’s stock valued at $5,200,000 after buying an additional 10,024 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in Amcor by 3.9% in the 3rd quarter. Park Avenue Securities LLC now owns 34,023 shares of the company’s stock valued at $312,000 after buying an additional 1,279 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price target on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st.

Amcor Stock Up 0.9 %

NYSE:AMCR opened at $10.32 on Friday. The company has a 50-day moving average of $9.30 and a 200 day moving average of $9.32. Amcor plc has a 1-year low of $8.45 and a 1-year high of $10.45. The firm has a market cap of $14.91 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.79. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.29 and a quick ratio of 0.75.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. Amcor’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. As a group, research analysts anticipate that Amcor plc will post 0.69 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 22nd will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a yield of 4.85%. Amcor’s dividend payout ratio is presently 111.11%.

Amcor Profile

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.