Investment Management Corp of Ontario Sells 8,390 Shares of Amcor plc (NYSE:AMCR)

Investment Management Corp of Ontario lessened its stake in Amcor plc (NYSE:AMCR) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 327,311 shares of the company’s stock after selling 8,390 shares during the quarter. Investment Management Corp of Ontario’s holdings in Amcor were worth $3,080,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP raised its holdings in shares of Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after purchasing an additional 3,551 shares during the period. Jones Financial Companies Lllp raised its holdings in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after acquiring an additional 2,660 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Amcor during the 4th quarter valued at $44,000. Huntington National Bank raised its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after acquiring an additional 1,522 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Amcor during the 4th quarter valued at $60,000. Institutional investors own 45.14% of the company’s stock.

Insider Transactions at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $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 through this hyperlink. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James assumed coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a “market perform” rating on the stock. Truist Financial lowered their target price on shares of Amcor from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Four 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

Amcor Trading Down 0.4%

Amcor stock opened at $9.13 on Monday. The stock has a market cap of $13.20 billion, a P/E ratio of 16.60, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm’s fifty day moving average price is $9.49 and its 200-day moving average price is $9.82. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.59%. Amcor’s payout ratio is currently 91.07%.

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.