AE Wealth Management LLC Has $1.01 Million Stake in Amcor PLC $AMCR

AE Wealth Management LLC cut its position in shares of Amcor PLC (NYSE:AMCR) by 51.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,311 shares of the company’s stock after selling 118,980 shares during the quarter. AE Wealth Management LLC’s holdings in Amcor were worth $1,014,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMCR. State of Alaska Department of Revenue raised its position in shares of Amcor by 51.6% in the second quarter. State of Alaska Department of Revenue now owns 464,293 shares of the company’s stock valued at $4,266,000 after purchasing an additional 158,082 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Amcor by 71.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,446,429 shares of the company’s stock worth $22,483,000 after purchasing an additional 1,019,306 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Amcor by 54,855.7% in the second quarter. Sound Income Strategies LLC now owns 605,062 shares of the company’s stock valued at $5,561,000 after buying an additional 603,961 shares during the period. Focus Partners Advisor Solutions LLC bought a new stake in shares of Amcor during the 2nd quarter valued at $463,000. Finally, Wedge Capital Management L L P NC raised its position in shares of Amcor by 20.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 772,904 shares of the company’s stock valued at $7,103,000 after buying an additional 132,002 shares in the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Trading Up 2.0%

Shares of AMCR stock opened at $8.58 on Friday. Amcor PLC has a fifty-two week low of $7.66 and a fifty-two week high of $10.70. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The stock has a 50 day simple moving average of $8.16 and a two-hundred day simple moving average of $8.85. The company has a market cap of $19.77 billion, a P/E ratio of 23.82, a PEG ratio of 1.14 and a beta of 0.72.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company’s quarterly revenue was up 71.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Research analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 6.1%. Amcor’s payout ratio is presently 152.94%.

Analyst Ratings Changes

AMCR has been the topic of a number of recent analyst reports. Royal Bank Of Canada assumed coverage on Amcor in a research report on Monday, September 22nd. They issued a “sector perform” rating on the stock. Robert W. Baird lowered their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 target price for the company in a research report on Friday, October 10th. The Goldman Sachs Group initiated coverage on shares of Amcor in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Amcor in a research note on Friday, September 19th. They issued an “overweight” rating and a $10.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and an average price target of $10.91.

Insider Transactions at Amcor

In other news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $85,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

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.