Maryland State Retirement & Pension System Cuts Stock Holdings in Amcor plc (NYSE:AMCR)

Maryland State Retirement & Pension System cut its position in shares of Amcor plc (NYSE:AMCR) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,787 shares of the company’s stock after selling 5,376 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Amcor were worth $723,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Larson Financial Group LLC increased its stake in shares of Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Amcor by 247.4% during 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 period. True Wealth Design LLC increased its position in Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the fourth quarter valued at $44,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Amcor during the 4th quarter valued at $60,000. 45.14% of the stock is owned by institutional investors.

Amcor Trading Up 1.1 %

Shares of AMCR stock opened at $9.54 on Tuesday. The company has a market capitalization of $13.79 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The business’s fifty day moving average is $9.93 and its 200 day moving average is $10.27. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

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

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Insider Transactions at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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 note on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $11.00 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 target for the company in a research report on Wednesday, December 11th. Finally, Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.