Amcor Plc (NYSE:AMCR) Shares Bought by Renaissance Technologies LLC

Defense World · Dec 8, 2022 06:22

Renaissance Technologies LLC grew its stake in shares of Amcor plc (NYSE:AMCR – Get Rating) by 336.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,313,158 shares of the company's stock after acquiring an additional 1,012,487 shares during the period. Renaissance Technologies LLC owned about 0.09% of Amcor worth $16,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AMCR. Hexagon Capital Partners LLC lifted its position in shares of Amcor by 1,680.9% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,422 shares of the company's stock valued at $30,000 after acquiring an additional 2,286 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Amcor by 81.2% in the second quarter. First Horizon Advisors Inc. now owns 3,076 shares of the company's stock valued at $37,000 after purchasing an additional 1,378 shares in the last quarter. Clear Street Markets LLC lifted its holdings in shares of Amcor by 406.6% in the second quarter. Clear Street Markets LLC now owns 3,141 shares of the company's stock valued at $39,000 after purchasing an additional 2,521 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $51,000 after purchasing an additional 1,982 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Amcor in the second quarter valued at $52,000. Institutional investors and hedge funds own 47.76% of the company's stock.

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Amcor Trading Down 0.2 %

Amcor stock opened at $12.13 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.27 and a quick ratio of 0.71. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 3.96 and a beta of 0.80. Amcor plc has a one year low of $10.42 and a one year high of $13.60. The company's fifty day moving average price is $11.47 and its two-hundred day moving average price is $12.09.

Amcor (NYSE:AMCR – Get Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.58 billion. Amcor had a return on equity of 28.47% and a net margin of 5.63%. On average, analysts forecast that Amcor plc will post 0.78 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Wednesday, November 23rd will be given a $0.1225 dividend. This is an increase from Amcor's previous quarterly dividend of $0.12. This represents a $0.49 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, November 22nd. Amcor's dividend payout ratio (DPR) is currently 87.50%.

Insider Activity

In other news, EVP Ian Wilson sold 100,000 shares of the firm's stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $12.38, for a total value of $1,238,000.00. Following the sale, the executive vice president now directly owns 131,610 shares of the company's stock, valued at $1,629,331.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Louis Fred Stephan sold 27,500 shares of the firm's stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $12.46, for a total value of $342,650.00. Following the sale, the insider now directly owns 112,464 shares of the company's stock, valued at $1,401,301.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ian Wilson sold 100,000 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $12.38, for a total transaction of $1,238,000.00. Following the completion of the sale, the executive vice president now owns 131,610 shares of the company's stock, valued at approximately $1,629,331.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,710,227 shares of company stock valued at $32,994,142. 0.61% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMCR shares. Macquarie lowered Amcor from an "outperform" rating to a "neutral" rating in a report on Thursday, August 18th. Jefferies Financial Group downgraded shares of Amcor from a "hold" rating to an "underperform" rating in a research note on Thursday, August 18th. Bank of America raised shares of Amcor from an "underperform" rating to a "buy" rating in a research note on Thursday, October 13th. Finally, TheStreet raised shares of Amcor from a "c+" rating to a "b-" rating in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Amcor currently has an average rating of "Hold" and a consensus target price of $12.15.

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.