Adams Natural Resources Fund Inc. Sells 22,000 Shares of Amcor PLC $AMCR

Adams Natural Resources Fund Inc. cut its stake in shares of Amcor PLC (NYSE:AMCR) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,400 shares of the company’s stock after selling 22,000 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in Amcor were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in Amcor by 1.7% during the 4th quarter. State Street Corp now owns 141,509,581 shares of the company’s stock worth $1,180,190,000 after acquiring an additional 2,432,340 shares during the last quarter. M&G PLC grew its position in Amcor by 6.1% during the 4th quarter. M&G PLC now owns 114,989,595 shares of the company’s stock worth $919,917,000 after acquiring an additional 6,655,611 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Amcor by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Amcor by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after buying an additional 2,036,667 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Amcor by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after buying an additional 262,418 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Amcor Stock Up 1.6%

AMCR stock opened at $40.54 on Friday. The stock’s 50 day simple moving average is $39.30 and its 200 day simple moving average is $42.01. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44. The company has a market cap of $18.74 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.23 and a beta of 0.64.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.96. Amcor had a return on equity of 14.55% and a net margin of 3.06%.The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. On average, research analysts expect that Amcor PLC will post 3.97 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Thursday, May 28th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Thursday, May 28th. Amcor’s payout ratio is currently 181.82%.

Analysts Set New Price Targets

AMCR has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a research note on Wednesday, April 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Finally, Citigroup dropped their price objective on Amcor from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Amcor 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.