Ingalls & Snyder LLC Acquires Shares of 78,108 Amcor PLC $AMCR

Ingalls & Snyder LLC acquired a new stake in Amcor PLC (NYSE:AMCR) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 78,108 shares of the company’s stock, valued at approximately $718,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc increased its holdings in shares of Amcor by 839.8% in the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after purchasing an additional 2,704 shares during the last quarter. Adirondack Trust Co. acquired a new position in shares of Amcor in the second quarter valued at $29,000. HM Payson & Co. acquired a new position in shares of Amcor in the first quarter valued at $30,000. Brentview Investment Management LLC acquired a new position in shares of Amcor in the first quarter valued at $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Amcor in the second quarter valued at $33,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMCR. Royal Bank Of Canada initiated coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Amcor in a research report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Jefferies Financial Group started coverage on shares of Amcor in a report on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Amcor in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and an average price target of $10.84.

Amcor Trading Down 1.0%

Shares of Amcor stock opened at $8.15 on Monday. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.16 and a beta of 0.73. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. Amcor PLC has a 12-month low of $7.81 and a 12-month high of $11.24. The firm’s 50-day moving average price is $8.25 and its two-hundred day moving average price is $8.96.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company’s quarterly revenue was up 43.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. On average, analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 5th were issued a dividend of $0.1275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.3%. Amcor’s payout ratio is 141.67%.

Insider Activity at Amcor

In other Amcor news, Director Stephen E. Sterrett acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the transaction, the director directly owned 10,000 shares in the company, valued at $85,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

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.