Ethic Inc. Increases Holdings in Amcor PLC $AMCR

Key Points

• Ethic Inc. significantly increased its stake in Amcor PLC by 88.9% in the second quarter, owning 232,139 shares worth approximately $2.13 million.
• Amcor's recent quarterly earnings report showed earnings per share of $0.20, missing the consensus estimate by $0.01, despite a 43.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.1275 per share, representing an annual yield of 6.3%, but has a high payout ratio of 141.67%.

Ethic Inc. grew its holdings in Amcor PLC (NYSE:AMCR - Free Report) by 88.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,139 shares of the company's stock after acquiring an additional 109,245 shares during the period. Ethic Inc.'s holdings in Amcor were worth $2,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Parcion Private Wealth LLC purchased a new position in shares of Amcor in the second quarter valued at about $148,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Amcor in the second quarter valued at about $107,000. Brookstone Capital Management purchased a new position in shares of Amcor in the second quarter valued at about $283,000. FNY Investment Advisers LLC lifted its position in shares of Amcor by 1,038.9% in the second quarter. FNY Investment Advisers LLC now owns 91,110 shares of the company's stock valued at $837,000 after acquiring an additional 83,110 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in shares of Amcor in the second quarter valued at about $268,000. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Trading Down 1.0%

Shares of NYSE AMCR opened at $8.15 on Friday. The business's 50 day moving average is $8.25 and its two-hundred day moving average is $8.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71. Amcor PLC has a 1-year low of $7.81 and a 1-year high of $11.24. The stock has a market capitalization of $18.78 billion, a P/E ratio of 22.63, a PEG ratio of 1.17 and a beta of 0.73.

Amcor (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The company's revenue was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, research analysts expect that Amcor PLC will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 5th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Friday, September 5th. Amcor's payout ratio is presently 141.67%.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $8.55 per share, with a total value of $85,500.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company's stock, valued at $85,500. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AMCR. The Goldman Sachs Group began coverage on Amcor in a research report on Wednesday, September 10th. They issued a "buy" rating on the stock. Jefferies Financial Group began coverage on Amcor in a report on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 target price on the stock. Stifel Nicolaus raised Amcor from a "hold" rating to a "buy" rating and set a $10.20 target price on the stock in a report on Friday, October 10th. Royal Bank Of Canada began coverage on Amcor in a report on Monday, September 22nd. They issued a "sector perform" rating on the stock. Finally, Truist Financial set a $11.00 target price on Amcor and gave the stock a "buy" rating in a report on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Amcor currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.84.

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.

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