Dynamic Technology Lab Private Ltd Buys Shares of 107,239 Amcor plc (NYSE:AMCR)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Amcor plc (NYSE:AMCR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 107,239 shares of the company’s stock, valued at approximately $1,215,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Daiwa Securities Group Inc. boosted its stake in Amcor by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 176,613 shares of the company’s stock valued at $2,001,000 after acquiring an additional 18,352 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares during the period. Sompo Asset Management Co. Ltd. boosted its position in shares of Amcor by 30.1% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 609,250 shares of the company’s stock worth $6,903,000 after purchasing an additional 140,850 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Amcor by 78.7% during the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after purchasing an additional 95,805 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Amcor by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after purchasing an additional 1,960,308 shares during the last quarter. 45.14% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AMCR shares. Citigroup raised their target price on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird increased their target price on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.94.

Amcor Price Performance

NYSE AMCR opened at $10.39 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The business has a 50 day simple moving average of $10.83 and a 200 day simple moving average of $10.51. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.89 and a beta of 0.85.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.16 earnings per share. Analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Thursday, November 21st will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.91%. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

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.