Forum Financial Management LP Buys 42,524 Shares of Amcor plc (NYSE:AMCR)

Forum Financial Management LP boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 288.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,285 shares of the company's stock after purchasing an additional 42,524 shares during the quarter. Forum Financial Management LP's holdings in Amcor were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock valued at $35,000 after purchasing an additional 2,660 shares during the period. Quarry LP increased its stake in Amcor by 2,064.5% during the fourth quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after acquiring an additional 3,551 shares during the period. Huntington National Bank grew its stake in shares of Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after purchasing an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Amcor during the 4th quarter worth approximately $44,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Amcor in the 4th quarter valued at $60,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMCR. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Raymond James began coverage on Amcor in a research note on Tuesday, April 22nd. They set a "market perform" rating on the stock. Finally, Truist Financial decreased their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four 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, Amcor currently has an average rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Stock Down 0.5%

AMCR traded down $0.05 during trading on Friday, hitting $9.04. 8,916,342 shares of the company's stock were exchanged, compared to its average volume of 19,006,575. The business's 50 day moving average is $9.29 and its two-hundred day moving average is $9.70. The stock has a market cap of $13.06 billion, a P/E ratio of 16.43, a PEG ratio of 1.96 and a beta of 0.78. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 annualized dividend and a dividend yield of 5.64%. Amcor's dividend payout ratio is currently 91.07%.

About Amcor

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.