Sei Investments Co. Raises Stock Holdings in Amcor plc (NYSE:AMCR)

Sei Investments Co. boosted its holdings in Amcor plc (NYSE:AMCR) by 9.3% during the 4th quarter, Holdings Channel reports. The firm owned 145,325 shares of the company’s stock after acquiring an additional 12,311 shares during the period. Sei Investments Co.’s holdings in Amcor were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AMCR. Quantbot Technologies LP purchased a new position in shares of Amcor in the 4th quarter worth about $8,787,000. Symmetry Partners LLC bought a new stake in Amcor in the fourth quarter worth about $132,000. Blueshift Asset Management LLC purchased a new position in Amcor in the fourth quarter valued at about $179,000. Teacher Retirement System of Texas bought a new position in shares of Amcor during the 4th quarter valued at approximately $127,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Amcor by 41.5% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 731,063 shares of the company’s stock worth $6,879,000 after purchasing an additional 214,287 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Amcor Stock Down 3.7 %

AMCR stock opened at $9.22 on Monday. The stock has a 50-day simple moving average of $9.91 and a two-hundred day simple moving average of $10.18. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The firm has a market capitalization of $13.32 billion, a PE ratio of 16.75, a PEG ratio of 1.96 and a beta of 0.78. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. On average, equities analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.53%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Analyst Ratings Changes

Several equities analysts recently commented on AMCR shares. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research report on Wednesday, December 11th. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.