Illinois Municipal Retirement Fund Grows Position in Amcor plc (NYSE:AMCR)

Illinois Municipal Retirement Fund increased its position in shares of Amcor plc (NYSE:AMCRGet Rating) by 71.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 69,335 shares of the company’s stock after buying an additional 28,901 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Amcor were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in Amcor by 1,680.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,422 shares of the company’s stock worth $30,000 after buying an additional 2,286 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Amcor by 81.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,076 shares of the company’s stock worth $37,000 after buying an additional 1,378 shares during the last quarter. Clear Street Markets LLC grew its stake in Amcor by 406.6% during the 2nd quarter. Clear Street Markets LLC now owns 3,141 shares of the company’s stock worth $39,000 after buying an additional 2,521 shares during the last quarter. CX Institutional purchased a new position in Amcor during the 2nd quarter worth approximately $52,000. Finally, Concord Wealth Partners grew its stake in shares of Amcor by 23.4% in the 2nd quarter. Concord Wealth Partners now owns 4,656 shares of the company’s stock valued at $58,000 after purchasing an additional 882 shares during the last quarter. Hedge funds and other institutional investors own 46.79% of the company’s stock.

Amcor Trading Up 1.0 %

Shares of AMCR stock opened at $12.00 on Tuesday. The business’s 50 day moving average is $12.09 and its two-hundred day moving average is $11.96. Amcor plc has a twelve month low of $10.42 and a twelve month high of $13.60. The company has a market capitalization of $17.87 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 3.83 and a beta of 0.79. The company has a current ratio of 1.27, a quick ratio of 0.71 and a debt-to-equity ratio of 1.73.

Amcor (NYSE:AMCRGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.58 billion. Amcor had a net margin of 5.63% and a return on equity of 28.47%. Equities analysts forecast that Amcor plc will post 0.78 EPS for the current year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 13th. Stockholders of record on Wednesday, November 23rd were issued a $0.1225 dividend. This is a boost from Amcor’s previous quarterly dividend of $0.12. This represents a $0.49 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Tuesday, November 22nd. Amcor’s dividend payout ratio (DPR) is currently 87.50%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TheStreet upgraded Amcor from a “c+” rating to a “b-” rating in a research note on Thursday, November 10th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating in a research note on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.15.

Insider Activity

In other news, Director Nicholas T. Long sold 5,372 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $12.40, for a total value of $66,612.80. Following the completion of the sale, the director now directly owns 29,769 shares of the company’s stock, valued at approximately $369,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Louis Fred Stephan sold 497,022 shares of Amcor stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $11.98, for a total transaction of $5,954,323.56. Following the completion of the transaction, the insider now owns 112,464 shares of the company’s stock, valued at approximately $1,347,318.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nicholas T. Long sold 5,372 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $12.40, for a total transaction of $66,612.80. Following the completion of the sale, the director now owns 29,769 shares in the company, valued at $369,135.60. The disclosure for this sale can be found here. Insiders sold 1,080,955 shares of company stock valued at $13,145,237 in the last three months. 0.61% of the stock is currently owned by company insiders.

Amcor Company Profile

(Get Rating)

Amcor Plc operates as a holding company, which engages in the consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.

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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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