Nuveen Asset Management LLC Purchases 27,406 Shares of Amcor plc (NYSE:AMCR)

Nuveen Asset Management LLC lifted its stake in Amcor plc (NYSE:AMCR - Free Report) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,998,923 shares of the company's stock after purchasing an additional 27,406 shares during the quarter. Nuveen Asset Management LLC owned 0.21% of Amcor worth $28,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after acquiring an additional 2,660 shares during the period. Quarry LP boosted its position in Amcor by 2,064.5% during the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock worth $35,000 after acquiring an additional 3,551 shares during the period. Huntington National Bank boosted its position in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after acquiring an additional 1,522 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 stake in Amcor during the 4th quarter worth about $60,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the business's stock in a transaction dated 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 acquisition, the director now directly owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AMCR shares. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Raymond James started coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating for the company. Finally, Truist Financial reduced their price target on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Amcor presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Stock Performance

AMCR traded up $0.22 on Tuesday, hitting $9.18. The company had a trading volume of 29,435,353 shares, compared to its average volume of 18,866,493. The company's fifty day moving average price is $9.31 and its 200 day moving average price is $9.71. Amcor plc has a 1-year low of $8.37 and a 1-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 stock has a market cap of $13.27 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting 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 analyst estimates of $3.51 billion. During the same period in the previous year, the company earned $0.13 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Equities analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 dividend yield of 5.56%. Amcor's dividend payout ratio (DPR) is presently 91.07%.

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.