Aquatic Capital Management LLC Has $6.72 Million Holdings in Amcor plc (NYSE:AMCR)

Aquatic Capital Management LLC grew its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 121.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 713,941 shares of the company's stock after buying an additional 391,441 shares during the quarter. Aquatic Capital Management LLC's holdings in Amcor were worth $6,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CWA Asset Management Group LLC raised its holdings in shares of 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 purchasing an additional 1,213 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake 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 purchasing an additional 1,409 shares in the last quarter. New York Life Investment Management LLC boosted its position in Amcor by 0.8% in the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after buying an additional 1,507 shares during the period. Huntington National Bank increased its stake in shares of Amcor by 52.4% during the fourth quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after buying an additional 1,522 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Amcor by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company's stock worth $4,161,000 after purchasing an additional 1,761 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company's stock.

Insider Buying and Selling

In related news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the purchase, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Raymond James began coverage on shares of Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial decreased their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and lifted their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Four equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.31.

Amcor Stock Performance

Shares of AMCR stock traded down $0.11 during trading on Thursday, reaching $9.10. The company had a trading volume of 59,561,275 shares, compared to its average volume of 17,247,097. The company has a market capitalization of $13.15 billion, a PE ratio of 16.54, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a one year low of $8.37 and a one year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The firm's 50 day simple moving average is $9.61 and its two-hundred day simple moving average is $9.94.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.51 billion. During the same quarter in the prior year, the firm posted $0.13 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.61%. Amcor's dividend payout ratio is 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.