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

Man Group plc bought a new position in shares of Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 261,619 shares of the company's stock, valued at approximately $2,462,000.

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

Amcor Stock Up 2.2%

NYSE:AMCR traded up $0.20 during trading hours on Tuesday, hitting $9.16. 17,389,206 shares of the stock traded hands, compared to its average volume of 18,819,621. The firm has a 50 day moving average price of $9.32 and a 200 day moving average price of $9.72. 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 plc has a fifty-two week low of $8.37 and a fifty-two week high of $11.48. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.96 and a beta of 0.78.

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

Amcor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a dividend yield of 5.57%. The ex-dividend date is Thursday, May 22nd. Amcor's dividend payout ratio is currently 91.07%.

Insider Activity

In related news, Director Achal Agarwal purchased 10,000 shares of the stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares in the company, valued at approximately $898,566.70. The trade was a 12.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMCR. Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Truist Financial dropped their price target on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James began coverage on Amcor in a report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Amcor has a consensus rating of "Moderate Buy" and a consensus price target 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.