Amcor plc (NYSE:AMCR – Get Rating) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 32,990,000 shares, a drop of 8.9% from the August 31st total of 36,200,000 shares. Based on an average trading volume of 8,840,000 shares, the days-to-cover ratio is currently 3.7 days. Approximately 2.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMCR. Jefferies Financial Group cut Amcor from a "hold" rating to an "underperform" rating in a research report on Thursday, August 18th. Macquarie lowered Amcor from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 18th. CLSA started coverage on Amcor in a research note on Tuesday, July 19th. They set a "buy" rating on the stock. Finally, Morgan Stanley lowered Amcor from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Amcor currently has an average rating of "Hold" and an average target price of $12.15.

Insider Activity at Amcor

In related news, insider Louis Fred Stephan sold 29,762 shares of Amcor stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.63, for a total transaction of $375,894.06. Following the completion of the transaction, the insider now directly owns 108,598 shares in the company, valued at $1,371,592.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Ronald Stephen Delia sold 177,185 shares of the business's stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $12.41, for a total value of $2,198,865.85. Following the completion of the sale, the chief executive officer now directly owns 1,700,000 shares in the company, valued at $21,097,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Louis Fred Stephan sold 29,762 shares of the business's stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $12.63, for a total value of $375,894.06. Following the completion of the sale, the insider now owns 108,598 shares of the company's stock, valued at $1,371,592.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,905,114 shares of company stock worth $35,840,080. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amcor

Amcor Stock Down 0.2 %

NYSE AMCR traded down $0.02 during trading hours on Friday, hitting $10.73. 9,823,618 shares of the company were exchanged, compared to its average volume of 6,890,525. The company has a 50 day moving average of $12.18 and a two-hundred day moving average of $12.24. The company has a quick ratio of 0.67, a current ratio of 1.15 and a debt-to-equity ratio of 1.53. Amcor has a 52-week low of $10.56 and a 52-week high of $13.60. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 2.14 and a beta of 0.77.

Amcor (NYSE:AMCR – Get Rating) last announced its earnings results on Wednesday, August 17th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. Amcor had a return on equity of 27.37% and a net margin of 5.53%. The firm had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.82 billion. During the same period in the prior year, the firm earned $0.23 EPS. Equities research analysts anticipate that Amcor will post 0.81 earnings per share for the current year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Thursday, September 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Wednesday, September 7th. Amcor's payout ratio is currently 90.57%.

About Amcor

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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.

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