BlackRock Inc. Takes $745.18 Million Position in Amcor plc (NYSE:AMCR)

BlackRock Inc. bought a new stake in Amcor plc (NYSE:AMCR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 64,854,838 shares of the company’s stock, valued at approximately $745,182,000. BlackRock Inc. owned 3.99% of Amcor at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AMCR. CENTRAL TRUST Co purchased a new position in shares of Amcor in the second quarter valued at $28,000. Tyers Asset Management LLC bought a new position in Amcor during the 2nd quarter valued at $31,000. QCI Asset Management Inc. NY bought a new position in Amcor during the 2nd quarter valued at $31,000. Tower Research Capital LLC TRC bought a new position in Amcor during the 2nd quarter valued at $33,000. Finally, Riverview Trust Co bought a new position in Amcor during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 26.66% of the company’s stock.

AMCR has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Amcor in a research note on Tuesday, October 22nd. They set an “underperform” rating on the stock. ValuEngine upgraded shares of Amcor from a “sell” rating to a “hold” rating in a research note on Friday, October 25th.

In other Amcor news, insider Louis Fred Stephan sold 69,787 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $10.27, for a total transaction of $716,712.49. Corporate insiders own 0.23% of the company’s stock.

NYSE AMCR opened at $9.77 on Friday. Amcor plc has a 12 month low of $8.75 and a 12 month high of $11.77. The company has a quick ratio of 0.72, a current ratio of 1.15 and a debt-to-equity ratio of 0.94. The company has a market cap of $16.15 billion, a P/E ratio of 16.02 and a beta of 0.75. The company’s fifty day moving average is $9.62.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Amcor had a net margin of 4.72% and a return on equity of 22.10%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the company earned $0.68 earnings per share. The company’s revenue was up 38.8% compared to the same quarter last year.

Amcor Profile

Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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