United Services Automobile Association Has $308,000 Stake in Amcor plc (NYSE:AMCR)

United Services Automobile Association raised its position in Amcor plc (NYSE:AMCR) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,682 shares of the company’s stock after purchasing an additional 3,021 shares during the quarter. United Services Automobile Association’s holdings in Amcor were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC raised its stake in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after acquiring an additional 1,096,664 shares during the period. Franklin Resources Inc. increased its holdings in shares of Amcor by 39.3% in the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after purchasing an additional 203,166 shares during the last quarter. Cerity Partners LLC raised its position in shares of Amcor by 78.7% in the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock valued at $2,464,000 after purchasing an additional 95,805 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Amcor during the 3rd quarter worth about $5,919,000. Finally, Van ECK Associates Corp bought a new stake in shares of Amcor during the 4th quarter worth about $2,605,000. Institutional investors own 45.14% of the company’s stock.

Analyst Upgrades and Downgrades

AMCR has been the topic of several research analyst reports. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Finally, Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.46.

Insider Transactions at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

Amcor Stock Up 1.1 %

Shares of NYSE AMCR opened at $9.54 on Tuesday. The stock has a market capitalization of $13.79 billion, a P/E ratio of 17.35, a PEG ratio of 1.96 and a beta of 0.80. The stock’s fifty day moving average is $9.93 and its 200 day moving average is $10.27. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were paid a $0.1275 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.34%. Amcor’s payout ratio is 92.73%.

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.