Eliot Finkel Investment Counsel LLC Increases Stock Position in Amcor plc (NYSE:AMCR)

Eliot Finkel Investment Counsel LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 95.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,460 shares of the company’s stock after buying an additional 95,330 shares during the period. Amcor accounts for 1.2% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 29th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Amcor were worth $1,839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP boosted its holdings in Amcor by 7.7% during the third quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock worth $167,000 after buying an additional 1,058 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in Amcor by 6.1% during the third quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after acquiring an additional 1,085 shares during the period. CWA Asset Management Group LLC raised its position in Amcor by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company’s stock worth $304,000 after acquiring an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC raised its position in Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company’s stock worth $131,000 after acquiring an additional 1,409 shares during the period. Finally, New York Life Investment Management LLC raised its position in Amcor by 0.8% during the fourth quarter. New York Life Investment Management LLC now owns 195,714 shares of the company’s stock worth $1,842,000 after acquiring an additional 1,507 shares during the period. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Price Performance

Shares of NYSE AMCR opened at $10.11 on Friday. Amcor plc has a 52 week low of $8.80 and a 52 week high of $11.48. The stock has a market capitalization of $14.61 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.96 and a beta of 0.84. The firm has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $10.41. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the business earned $0.09 earnings per share. Amcor’s revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.05%. The ex-dividend date is Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Analysts Set New Price Targets

A number of research firms have weighed in on AMCR. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research report on Wednesday, December 11th. Three 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.46.

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.