Ancora Advisors LLC Has $39.47 Million Holdings in Amcor PLC $AMCR

Ancora Advisors LLC grew its holdings in shares of Amcor PLC (NYSE:AMCR - Free Report) by 2,422.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 910,503 shares of the company's stock after buying an additional 874,402 shares during the period. Amcor makes up 0.8% of Ancora Advisors LLC's investment portfolio, making the stock its 29th largest holding. Ancora Advisors LLC owned about 0.20% of Amcor worth $39,470,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Capital International Investors acquired a new stake in shares of Amcor in the 4th quarter valued at about $354,227,000. Norges Bank acquired a new position in Amcor during the 4th quarter worth approximately $308,724,000. AQR Capital Management LLC boosted its holdings in Amcor by 398.6% in the second quarter. AQR Capital Management LLC now owns 16,015,722 shares of the company's stock worth $147,184,000 after acquiring an additional 12,803,785 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Amcor in the fourth quarter worth approximately $103,713,000. Finally, Invesco Ltd. grew its stake in Amcor by 29.9% in the third quarter. Invesco Ltd. now owns 47,111,558 shares of the company's stock valued at $385,373,000 after acquiring an additional 10,846,351 shares during the period. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Trading Down 1.5%

Shares of Amcor stock opened at $45.97 on Tuesday. The company has a market capitalization of $21.25 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 2.55 and a beta of 0.62. The stock has a fifty day simple moving average of $45.08 and a 200 day simple moving average of $42.68. Amcor PLC has a 12-month low of $36.25 and a 12-month high of $50.94. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.17.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. The business had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The business's revenue was up 25.9% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. On average, sell-side analysts anticipate that Amcor PLC will post 1.84 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 4th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, September 4th. Amcor's dividend payout ratio is presently 110.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMCR shares. UBS Group assumed coverage on Amcor in a report on Tuesday, August 11th. They set a "buy" rating and a $56.00 price objective for the company. Truist Financial set a $51.00 price target on shares of Amcor in a research report on Tuesday, August 18th. Jefferies Financial Group set a $44.92 price target on shares of Amcor and gave the company a "hold" rating in a research note on Tuesday, July 21st. Wells Fargo & Company upped their price objective on shares of Amcor from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Amcor in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Amcor currently has an average rating of "Moderate Buy" and a consensus target price of $49.49.

About Amcor

Amcor NYSE: AMCR is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company's product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor's packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.

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