Ziegler Capital Management LLC cut its stake in Amcor plc (NYSE:AMCR – Get Rating) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,700 shares of the company's stock after selling 2,259 shares during the quarter. Ziegler Capital Management LLC's holdings in Amcor were worth $1,712,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Center For Asset Management LLC purchased a new position in Amcor during the 2nd quarter worth $215,000. Commonwealth Equity Services LLC grew its stake in Amcor by 30.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 823,897 shares of the company's stock worth $10,241,000 after buying an additional 192,060 shares during the last quarter. Icon Wealth Partners LLC grew its stake in Amcor by 42.3% during the 2nd quarter. Icon Wealth Partners LLC now owns 14,624 shares of the company's stock worth $182,000 after buying an additional 4,349 shares during the last quarter. Toews Corp ADV grew its stake in Amcor by 208.0% during the 2nd quarter. Toews Corp ADV now owns 108,100 shares of the company's stock worth $1,344,000 after buying an additional 73,000 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Amcor by 19.8% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 78,041 shares of the company's stock worth $970,000 after buying an additional 12,874 shares during the last quarter. 47.76% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Several research analysts recently weighed in on AMCR shares. Morgan Stanley downgraded Amcor from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 4th. CLSA began coverage on Amcor in a research report on Tuesday, July 19th. They set a "buy" rating for the company. Jefferies Financial Group cut Amcor from a "hold" rating to an "underperform" rating in a research report on Thursday, August 18th. Finally, Macquarie cut Amcor from an "outperform" rating to a "neutral" rating in a research report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Amcor presently has a consensus rating of "Hold" and an average target price of $12.15.
Insider Activity
In other news, CEO Ronald Stephen Delia sold 177,185 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 1,700,000 shares of the company's stock, valued at approximately $21,097,000. The sale was disclosed in a legal filing with the SEC, which is accessible through
this link. In related news, CEO Ronald Stephen Delia sold 177,185 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 1,700,000 shares of the company's stock, valued at approximately $21,097,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through
the SEC website. Also, insider Eric V. Roegner sold 1,035,748 shares of the company's stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $12.58, for a total value of $13,029,709.84. Following the completion of the transaction, the insider now directly owns 278,308 shares of the company's stock, valued at approximately $3,501,114.64. The disclosure for this sale can be found
here. Insiders sold a total of 2,905,114 shares of company stock valued at $35,840,080 in the last quarter. 0.28% of the stock is currently owned by company insiders.
Amcor Stock Performance
Shares of AMCR opened at $10.73 on Monday. The stock has a market cap of $15.98 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.14 and a beta of 0.77. The stock has a 50-day moving average of $12.18 and a two-hundred day moving average of $12.24. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.67 and a current ratio of 1.15. Amcor plc has a one year low of $10.56 and a one year high of $13.60.
Amcor (NYSE:AMCR – Get Rating) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.82 billion. Amcor had a return on equity of 27.37% and a net margin of 5.53%. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, research analysts predict that Amcor plc will post 0.81 EPS for the current year.
Amcor Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Thursday, September 8th were issued a $0.12 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.48 annualized dividend and a dividend yield of 4.47%. Amcor's dividend payout ratio (DPR) is presently 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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