Public Employees Retirement System of Ohio Makes New Investment in Amcor plc (NYSE:AMCR)

Public Employees Retirement System of Ohio purchased a new stake in Amcor plc (NYSE:AMCR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 522,398 shares of the company’s stock, valued at approximately $5,919,000.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock valued at $27,000 after purchasing an additional 2,319 shares in the last quarter. Rise Advisors LLC bought a new stake in Amcor during the 3rd quarter worth approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor in the 3rd quarter valued at approximately $35,000. True Wealth Design LLC increased its position in Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock valued at $46,000 after acquiring an additional 1,299 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $9.90 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a twelve month low of $8.78 and a twelve month high of $11.48. The company has a fifty day moving average of $10.60 and a 200-day moving average of $10.52. The firm has a market capitalization of $14.30 billion, a P/E ratio of 18.67, a P/E/G ratio of 1.80 and a beta of 0.82.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Amcor plc will post 0.74 EPS for the current year.

Amcor Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is 96.23%.

Analyst Upgrades and Downgrades

AMCR has been the subject of a number of recent research reports. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird raised their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, UBS Group raised shares of Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and an average target price of $11.20.

About Amcor

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.