GSA Capital Partners LLP Grows Position in Amcor plc (NYSE:AMCR)

GSA Capital Partners LLP raised its position in shares of Amcor plc (NYSE:AMCR) by 51.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,190 shares of the company’s stock after acquiring an additional 11,685 shares during the period. GSA Capital Partners LLP’s holdings in Amcor were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMCR. M&G Plc raised its position in shares of Amcor by 2,741.7% during the 2nd quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after buying an additional 45,504,608 shares in the last quarter. SteelPeak Wealth LLC bought a new position in shares of Amcor during the 2nd quarter worth $781,000. Vanguard Group Inc. boosted its position in Amcor by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock valued at $539,686,000 after acquiring an additional 1,170,986 shares in the last quarter. Cardinal Capital Management raised its stake in shares of Amcor by 832.2% during the 2nd quarter. Cardinal Capital Management now owns 115,616 shares of the company’s stock worth $1,131,000 after acquiring an additional 103,213 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Amcor by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Up 2.5 %

Shares of Amcor stock opened at $10.47 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company’s 50-day simple moving average is $10.86 and its 200-day simple moving average is $10.50.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. As a group, equities research analysts anticipate that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a $0.1275 dividend. The ex-dividend date is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 annualized dividend and a yield of 4.87%. Amcor’s payout ratio is 94.34%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMCR. Wells Fargo & Company lifted their target price on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Citigroup upped their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird boosted their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Amcor currently has an average rating of “Hold” and a consensus target price of $10.94.

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.