Amcor Sees Unusually High Options Volume (NYSE:AMCR)

Amcor plc (NYSE:AMCR) was the recipient of unusually large options trading on Friday. Traders bought 15,246 call options on the company. This represents an increase of approximately 991% compared to the typical volume of 1,397 call options.

Insider Buying and Selling

In other news, Director Achal Agarwal bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMCR. Jones Financial Companies Lllp grew its stake in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after buying an additional 2,660 shares in the last quarter. Quarry LP grew its position in Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock valued at $35,000 after acquiring an additional 3,551 shares in the last quarter. Huntington National Bank raised its stake in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after purchasing an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the fourth quarter worth $44,000. Finally, Menard Financial Group LLC acquired a new position in shares of Amcor during the fourth quarter worth $46,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR opened at $9.34 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor has a 1-year low of $8.37 and a 1-year high of $11.48. The firm has a market capitalization of $13.49 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.96 and a beta of 0.78. The business’s 50-day simple moving average is $9.79 and its 200-day simple moving average is $10.09.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the previous year, the company posted $0.09 earnings per share. Amcor’s revenue was down .3% compared to the same quarter last year. Equities analysts predict that Amcor will post 0.74 EPS for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were issued a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.46%. Amcor’s dividend payout ratio is currently 92.73%.

Wall Street Analyst Weigh In

AMCR has been the topic of several analyst reports. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Amcor Company 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.