Amalgamated Bank Has $2.61 Million Stake in Amcor plc (NYSE:AMCR)

Amalgamated Bank lowered its stake in Amcor plc (NYSE:AMCR) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 277,828 shares of the company’s stock after selling 5,796 shares during the quarter. Amalgamated Bank’s holdings in Amcor were worth $2,614,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after buying an additional 2,804,484 shares in the last quarter. M&G PLC lifted its stake in shares of Amcor by 5.9% in the 3rd quarter. M&G PLC now owns 49,940,152 shares of the company’s stock valued at $549,342,000 after acquiring an additional 2,775,794 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amcor by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 43,190,458 shares of the company’s stock valued at $489,348,000 after acquiring an additional 1,960,308 shares in the last quarter. Finally, KBC Group NV grew its position in Amcor by 94.8% during the 3rd quarter. KBC Group NV now owns 2,940,184 shares of the company’s stock worth $33,312,000 after acquiring an additional 1,430,545 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of Amcor stock opened at $10.11 on Friday. The business has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $10.41. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The company has a market cap of $14.61 billion, a P/E ratio of 18.37, a PEG ratio of 1.96 and a beta of 0.84.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.05%. Amcor’s payout ratio is presently 92.73%.

Analyst Ratings Changes

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

About Amcor

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.