Curbstone Financial Management Corp Purchases New Holdings in Amcor plc (NYSE:AMCR)

Curbstone Financial Management Corp bought a new position in shares of Amcor plc (NYSE:AMCR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 64,358 shares of the company's stock, valued at approximately $624,000.

Other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of Amcor by 303.9% in the fourth quarter. Marshall Wace LLP now owns 8,699,610 shares of the company's stock worth $81,863,000 after acquiring an additional 6,545,689 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock worth $263,215,000 after acquiring an additional 5,614,233 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Amcor by 474.7% in the fourth quarter. First Trust Advisors LP now owns 5,402,490 shares of the company's stock worth $50,837,000 after acquiring an additional 4,462,367 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Amcor by 16.0% in the fourth quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock worth $286,300,000 after acquiring an additional 4,199,209 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Amcor in the fourth quarter worth $31,485,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMCR shares. Raymond James started coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating for the company. Truist Financial dropped their target price on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.31.

Amcor Stock Down 1.7%

Shares of NYSE AMCR traded down $0.16 on Friday, hitting $9.09. The company had a trading volume of 21,495,655 shares, compared to its average volume of 19,693,240. Amcor plc has a 12-month low of $8.37 and a 12-month high of $11.48. The business has a 50 day moving average of $9.22 and a two-hundred day moving average of $9.61. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $13.13 billion, a P/E ratio of 16.52, a PEG ratio of 1.96 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last issued 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 company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the business earned $0.13 earnings per share. The company's revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast 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 was paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Thursday, May 22nd. Amcor's dividend payout ratio is currently 91.07%.

Amcor 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.