Amcor PLC $AMCR Holdings Lifted by Nan Fung Trinity HK Ltd.

Nan Fung Trinity HK Ltd. boosted its holdings in Amcor PLC (NYSE:AMCR) by 29.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,238,180 shares of the company’s stock after purchasing an additional 969,000 shares during the quarter. Amcor makes up approximately 4.7% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 3rd biggest position. Nan Fung Trinity HK Ltd.’s holdings in Amcor were worth $38,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. National Pension Service lifted its holdings in shares of Amcor by 4.0% in the second quarter. National Pension Service now owns 466,781 shares of the company’s stock worth $4,290,000 after buying an additional 18,133 shares in the last quarter. Vise Technologies Inc. bought a new stake in Amcor in the 2nd quarter valued at $1,316,000. Fidelis Capital Partners LLC increased its holdings in Amcor by 112.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 22,710 shares of the company’s stock valued at $214,000 after acquiring an additional 11,998 shares during the last quarter. Profund Advisors LLC lifted its stake in Amcor by 59.5% in the 2nd quarter. Profund Advisors LLC now owns 58,622 shares of the company’s stock worth $539,000 after purchasing an additional 21,878 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. bought a new position in shares of Amcor during the 2nd quarter valued at about $6,212,000. Institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 0.5%

Shares of AMCR stock opened at $8.48 on Wednesday. The company has a market cap of $19.54 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.70. The stock’s 50 day simple moving average is $8.15 and its two-hundred day simple moving average is $8.85. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71.

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

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 28th will be paid a $0.13 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, November 28th. Amcor’s payout ratio is currently 152.94%.

Insider Activity

In other news, Director Stephen E. Sterrett bought 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at $85,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research reports. Robert W. Baird reduced their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Wells Fargo & Company cut their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, October 15th. JPMorgan Chase & Co. initiated coverage on Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target on the stock in a research report on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Amcor has an average rating of “Moderate Buy” and a consensus target price of $10.84.

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.