Gilman Hill Asset Management LLC Makes New Investment in Amcor PLC $AMCR

Key Points

• Gilman Hill Asset Management bought 1,063,423 shares of Amcor (NYSE:AMCR) in Q4, a stake valued at about $8.87 million that represents roughly 1.4% of the firm's portfolio and is its 17th-largest holding.
• Other institutions also moved into Amcor, notably Norges Bank with a new ~$328.8 million position and Legal & General holding 11.6 million shares, leaving roughly 45.14% of the stock owned by institutions.
• Amcor pays a quarterly dividend of $0.65 (annualized $2.60) for a 6.6% yield

Gilman Hill Asset Management LLC purchased a new stake in shares of Amcor PLC (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,063,423 shares of the company's stock, valued at approximately $8,869,000. Amcor makes up about 1.4% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 17th biggest position.

Other hedge funds have also modified their holdings of the company. Prudential Financial Inc. raised its holdings in Amcor by 124.5% during the second quarter. Prudential Financial Inc. now owns 395,591 shares of the company's stock valued at $3,635,000 after acquiring an additional 219,390 shares during the period. Norges Bank bought a new position in shares of Amcor in the second quarter worth about $328,839,000. GAMMA Investing LLC boosted its stake in shares of Amcor by 213.1% in the fourth quarter. GAMMA Investing LLC now owns 126,702 shares of the company's stock worth $1,057,000 after acquiring an additional 86,231 shares during the period. Legal & General Group Plc grew its position in shares of Amcor by 37.7% during the second quarter. Legal & General Group Plc now owns 11,618,449 shares of the company's stock worth $106,774,000 after purchasing an additional 3,181,138 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in Amcor by 2,272.4% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,228,456 shares of the company's stock valued at $11,290,000 after purchasing an additional 1,176,675 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on AMCR. Weiss Ratings restated a "hold (c-)" rating on shares of Amcor in a research note on Wednesday, January 21st. Truist Financial lifted their price objective on shares of Amcor from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. Wells Fargo & Company downgraded shares of Amcor from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $48.00 to $43.00 in a report on Friday, March 20th. Robert W. Baird set a $54.00 target price on shares of Amcor in a research report on Wednesday, February 4th. Finally, Citigroup reaffirmed a "buy" rating on shares of Amcor in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.25.

Amcor Price Performance

Shares of Amcor stock opened at $39.11 on Wednesday. The stock has a 50 day moving average of $45.00 and a 200 day moving average of $42.66. Amcor PLC has a 12 month low of $38.02 and a 12 month high of $50.94. The firm has a market cap of $18.07 billion, a PE ratio of 25.56, a PEG ratio of 0.92 and a beta of 0.65. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 1.26.

Amcor (NYSE:AMCR - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $5.53 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.The company's revenue was up 68.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. Amcor has set its FY 2026 guidance at 4.000-4.150 EPS. On average, research analysts expect that Amcor PLC will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Wednesday, February 25th were issued a $0.65 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.6%. Amcor's dividend payout ratio (DPR) is 169.93%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.