Man Group plc Takes $2.46 Million Position in Amcor plc (NYSE:AMCR)

Man Group plc acquired a new position in Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 261,619 shares of the company's stock, valued at approximately $2,462,000.

Several other hedge funds also recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company's stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the period. Park Avenue Securities LLC raised its position in Amcor by 13.6% during the fourth quarter. Park Avenue Securities LLC now owns 19,571 shares of the company's stock valued at $184,000 after acquiring an additional 2,348 shares in the last quarter. Merit Financial Group LLC bought a new stake in Amcor in the fourth quarter worth approximately $127,000. Gradient Investments LLC bought a new position in shares of Amcor during the 4th quarter valued at $471,000. Finally, Blue Trust Inc. lifted its stake in shares of Amcor by 18.4% in the 4th quarter. Blue Trust Inc. now owns 12,254 shares of the company's stock valued at $115,000 after purchasing an additional 1,901 shares during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Price Performance

Shares of Amcor stock traded down $0.05 during mid-day trading on Wednesday, reaching $9.12. 6,321,546 shares of the stock were exchanged, compared to its average volume of 18,820,152. Amcor plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The firm has a 50-day simple moving average of $9.31 and a 200 day simple moving average of $9.71. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. On average, sell-side analysts predict that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be paid a $0.1275 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.59%. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Insider Activity at Amcor

In related news, Director Achal Agarwal bought 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the transaction, the director now owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This trade represents a 12.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.