Rubric Capital Management LP purchased a new stake in shares of Amcor PLC (NYSE:AMCR – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,269,396 shares of the company’s stock, valued at approximately $50,458,000. Rubric Capital Management LP owned approximately 0.27% of Amcor at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Weiss Asset Management LP bought a new stake in Amcor during the 1st quarter valued at $8,388,000. OMERS ADMINISTRATION Corp boosted its holdings in shares of Amcor by 25.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 65,125 shares of the company’s stock worth $2,589,000 after acquiring an additional 13,344 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Amcor in the first quarter valued at $1,154,000. XY Capital Ltd purchased a new position in shares of Amcor in the first quarter valued at $4,532,000. Finally, ABN Amro Investment Solutions bought a new stake in shares of Amcor during the 1st quarter valued at $614,000. 45.14% of the stock is owned by institutional investors.
Amcor Trading Up 1.6%
Amcor stock opened at $45.27 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The stock has a market cap of $20.93 billion, a P/E ratio of 31.66, a PEG ratio of 1.40 and a beta of 0.62. The firm’s fifty day moving average price is $41.27 and its 200-day moving average price is $42.25.
Amcor Announces Dividend
The firm 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 181.82%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on AMCR shares. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Citigroup decreased their price target on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Bank of America raised their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Amcor presently has a consensus rating of “Moderate Buy” and an average target price of $48.08.
Get Our Latest Stock Report on AMCR
Amcor Company 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.
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