Rhumbline Advisers Sells 29,284 Shares of Amcor plc (NYSE:AMCR)

Rhumbline Advisers decreased its position in Amcor plc (NYSE:AMCR) by 1.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,541,565 shares of the company’s stock after selling 29,284 shares during the period. Rhumbline Advisers’ holdings in Amcor were worth $23,916,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AMCR. Larson Financial Group LLC lifted its stake in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. True Wealth Design LLC lifted its stake in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Signaturefd LLC lifted its stake in Amcor by 296.3% in the 3rd quarter. Signaturefd LLC now owns 4,336 shares of the company’s stock valued at $49,000 after acquiring an additional 3,242 shares in the last quarter. Covestor Ltd raised its stake in shares of Amcor by 441.0% during the 3rd quarter. Covestor Ltd now owns 7,963 shares of the company’s stock worth $90,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Amcor during the 3rd quarter worth approximately $97,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Up 0.2 %

AMCR stock opened at $10.20 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $14.74 billion, a PE ratio of 18.54, a PEG ratio of 1.93 and a beta of 0.84. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The business’s 50 day simple moving average is $9.71 and its 200 day simple moving average is $10.42.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is 92.73%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMCR. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.46.

About Amcor

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.