Merit Financial Group LLC Takes $156,000 Position in Amcor plc (NYSE:AMCR)

Merit Financial Group LLC acquired a new stake in Amcor plc (NYSE:AMCR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 16,156 shares of the company’s stock, valued at approximately $156,000.

A number of other large investors also recently modified their holdings of the company. Toronto Dominion Bank bought a new position in Amcor in the 3rd quarter valued at $43,187,000. Invesco Ltd. boosted its stake in Amcor by 14.9% during the third quarter. Invesco Ltd. now owns 20,531,344 shares of the company’s stock valued at $188,067,000 after buying an additional 2,664,715 shares during the period. FMR LLC grew its position in Amcor by 315.0% during the third quarter. FMR LLC now owns 1,816,174 shares of the company’s stock worth $16,636,000 after buying an additional 1,378,594 shares in the last quarter. CBOE Vest Financial LLC increased its stake in Amcor by 106.3% in the 3rd quarter. CBOE Vest Financial LLC now owns 2,251,643 shares of the company’s stock worth $20,625,000 after acquiring an additional 1,160,061 shares during the last quarter. Finally, Vest Financial LLC raised its holdings in shares of Amcor by 38.2% in the 4th quarter. Vest Financial LLC now owns 3,110,645 shares of the company’s stock valued at $29,987,000 after acquiring an additional 859,002 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Amcor Stock Performance

NYSE AMCR opened at $10.32 on Friday. Amcor plc has a 52-week low of $8.45 and a 52-week high of $10.45. The company has a fifty day moving average of $9.30 and a 200-day moving average of $9.32. The company has a market capitalization of $14.91 billion, a P/E ratio of 22.92, a P/E/G ratio of 5.48 and a beta of 0.79. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29.

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

Amcor Dividend Announcement

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 paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.85%. The ex-dividend date is Tuesday, May 21st. Amcor’s dividend payout ratio is currently 111.11%.

Amcor Company 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.