ABN Amro Investment Solutions Invests $614,000 in Amcor PLC $AMCR

ABN Amro Investment Solutions bought a new stake in Amcor PLC (NYSE:AMCR) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,453 shares of the company’s stock, valued at approximately $614,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oslo Pensjonsforsikring AS purchased a new stake in Amcor during the 1st quarter worth approximately $205,000. Summit Global Investments bought a new position in Amcor during the 1st quarter worth approximately $242,000. Parallel Advisors LLC bought a new position in Amcor during the 1st quarter worth approximately $183,000. SEB Asset Management AB bought a new stake in shares of Amcor in the 1st quarter valued at approximately $3,831,000. Finally, Palladiem LLC bought a new stake in shares of Amcor in the 1st quarter valued at approximately $34,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMCR has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company set a $43.00 price target on shares of Amcor and gave the company an “equal weight” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 price objective for the company. Citigroup dropped their price objective on shares of Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.08.

Amcor Stock Up 4.6%

Amcor stock opened at $44.60 on Friday. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.40 and a beta of 0.62. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $41.11 and its two-hundred day moving average price is $42.23. Amcor PLC has a 52 week low of $36.25 and a 52 week high of $50.94.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm earned $0.90 EPS. Amcor’s revenue was up 77.4% on a year-over-year basis. On average, analysts expect that Amcor PLC will post 3.97 EPS for the current fiscal year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, May 28th. This represents a $2.60 annualized dividend and a dividend yield of 5.8%. Amcor’s dividend payout ratio (DPR) is 181.82%.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.