Quantbot Technologies LP Invests $8.79 Million in Amcor plc (NYSE:AMCR)

Quantbot Technologies LP bought a new stake in Amcor plc (NYSE:AMCR) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 933,839 shares of the company’s stock, valued at approximately $8,787,000. Quantbot Technologies LP owned about 0.06% of Amcor as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% in the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. Jones Financial Companies Lllp boosted its holdings in Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares during the last quarter. True Wealth Design LLC grew its position in Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amcor during the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Amcor in the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMCR shares. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.46.

Insider Buying and Selling at Amcor

In other news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Amcor Stock Performance

Shares of Amcor stock opened at $9.61 on Friday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The business has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $10.36. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market cap of $13.88 billion, a PE ratio of 17.46, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date is Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Amcor Company Profile

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.