Adams Natural Resources Fund Inc. Has $1.39 Million Stock Position in Amcor PLC $AMCR

Adams Natural Resources Fund Inc. reduced its position in Amcor PLC (NYSE:AMCR) by 80.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 34,880 shares of the company’s stock after selling 139,520 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in Amcor were worth $1,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital International Investors bought a new stake in shares of Amcor during the 4th quarter valued at approximately $354,227,000. Norges Bank bought a new stake in Amcor in the fourth quarter valued at approximately $308,724,000. AQR Capital Management LLC boosted its stake in shares of Amcor by 398.6% in the 2nd quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company’s stock valued at $147,184,000 after purchasing an additional 12,803,785 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Amcor during the 4th quarter worth about $103,713,000. Finally, Invesco Ltd. grew its stake in Amcor by 29.9% during the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company’s stock worth $385,373,000 after purchasing an additional 10,846,351 shares during the period. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $43.11 on Friday. The company’s 50-day moving average is $39.45 and its 200 day moving average is $41.94. 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 capitalization of $19.93 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 1.30 and a beta of 0.64. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, May 28th. Amcor’s dividend payout ratio is currently 181.82%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Truist Financial restated a “buy” rating and issued a $51.00 price target (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Citigroup lowered their price target on Amcor from $54.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Weiss Ratings upgraded Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a report on Wednesday, April 1st. They issued a “buy” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.