FineMark National Bank & Trust Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

FineMark National Bank & Trust lessened its position in Amcor plc (NYSE:AMCR) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,500 shares of the company’s stock after selling 11,750 shares during the quarter. FineMark National Bank & Trust’s holdings in Amcor were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMCR. Larson Financial Group LLC grew its stake in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after acquiring an additional 2,319 shares in the last quarter. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Amcor in the 4th quarter valued at $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Amcor in the 4th quarter worth $60,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group raised shares of 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. 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 research note on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Wednesday, December 11th. 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Trading Down 1.3 %

Shares of NYSE AMCR opened at $9.43 on Wednesday. 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 stock has a market capitalization of $13.63 billion, a PE ratio of 17.15, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a twelve month low of $8.80 and a twelve month high of $11.48. The stock has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $10.26.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. On average, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is currently 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.