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Hennion & Walsh Asset Management Inc. Boosts Position in Amcor Plc (NYSE:AMCR)

Defense World · Oct 1, 2022 06:02

Hennion & Walsh Asset Management Inc. grew its stake in Amcor plc (NYSE:AMCR – Get Rating) by 19.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,041 shares of the company's stock after buying an additional 12,874 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Amcor were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMCR. AdvisorNet Financial Inc increased its position in Amcor by 24,433.3% in the first quarter. AdvisorNet Financial Inc now owns 3,680 shares of the company's stock worth $42,000 after buying an additional 3,665 shares in the last quarter. Cornerstone Advisory LLC bought a new position in shares of Amcor in the fourth quarter worth about $46,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Amcor by 78.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,493 shares of the company's stock worth $51,000 after acquiring an additional 1,982 shares during the period. Riverview Trust Co boosted its stake in shares of Amcor by 80.1% in the first quarter. Riverview Trust Co now owns 5,389 shares of the company's stock worth $61,000 after acquiring an additional 2,396 shares during the period. Finally, CWM LLC boosted its stake in shares of Amcor by 59.3% in the first quarter. CWM LLC now owns 5,646 shares of the company's stock worth $64,000 after acquiring an additional 2,102 shares during the period. Hedge funds and other institutional investors own 47.76% of the company's stock.

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Amcor Price Performance

Shares of Amcor stock opened at $10.73 on Friday. The stock has a 50 day moving average of $12.18 and a 200 day moving average of $12.24. Amcor plc has a 12 month low of $10.56 and a 12 month high of $13.60. The firm has a market cap of $15.98 billion, a PE ratio of 20.25, a PEG ratio of 2.17 and a beta of 0.77. The company has a current ratio of 1.15, a quick ratio of 0.67 and a debt-to-equity ratio of 1.53.

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

Amcor Announces Dividend

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

Insider Activity

In other news, insider Michael J. Zacka sold 1,429,959 shares of the firm's stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $12.15, for a total value of $17,374,001.85. Following the completion of the sale, the insider now directly owns 209,115 shares of the company's stock, valued at approximately $2,540,747.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael J. Zacka sold 1,429,959 shares of the firm's stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $12.15, for a total value of $17,374,001.85. Following the completion of the sale, the insider now directly owns 209,115 shares of the company's stock, valued at approximately $2,540,747.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric V. Roegner sold 1,035,748 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 278,308 shares in the company, valued at $3,501,114.64. The disclosure for this sale can be found here. Insiders sold 2,905,114 shares of company stock valued at $35,840,080 in the last ninety days. Insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

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

Amcor Profile

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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.