Norden Group LLC Makes New Investment in Amcor PLC $AMCR

Key Points

• Norden Group LLC has invested approximately $328,000 in Amcor PLC by acquiring 35,692 shares during the 2nd quarter.
• Several institutional investors, including AdvisorNet Financial Inc and Rakuten Securities Inc, significantly increased their stakes in Amcor, highlighting growing institutional interest.
• Amcor recently declared a quarterly dividend of $0.1275 per share, providing an annualized yield of 6.3% despite a high dividend payout ratio of 141.67%.

Norden Group LLC purchased a new position in Amcor PLC (NYSE:AMCR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,692 shares of the company's stock, valued at approximately $328,000.

Several other institutional investors have also added to or reduced their stakes in AMCR. AdvisorNet Financial Inc raised its position in Amcor by 839.8% in the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock worth $28,000 after acquiring an additional 2,704 shares during the period. Rakuten Securities Inc. raised its position in Amcor by 18,725.0% in the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after acquiring an additional 2,996 shares during the period. Adirondack Trust Co. bought a new position in Amcor in the second quarter worth approximately $29,000. HM Payson & Co. purchased a new stake in shares of Amcor in the first quarter worth $30,000. Finally, Brentview Investment Management LLC purchased a new stake in shares of Amcor in the first quarter worth $31,000. 45.14% of the stock is currently owned by institutional investors.

Insider Activity at Amcor

In other Amcor news, Director Stephen E. Sterrett acquired 10,000 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $8.55 per share, with a total value of $85,500.00. Following the purchase, the director directly owned 10,000 shares of the company's stock, valued at approximately $85,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Amcor in a research note on Wednesday, July 2nd. They issued a "buy" rating and a $12.00 price objective for the company. UBS Group raised shares of Amcor from a "neutral" rating to a "buy" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. assumed coverage on shares of Amcor in a research note on Friday, September 19th. They issued an "overweight" rating and a $10.00 price objective for the company. Truist Financial set a $11.00 price objective on shares of Amcor and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Robert W. Baird reduced their price objective on shares of Amcor from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Amcor presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.21.

Amcor Stock Performance

AMCR opened at $8.06 on Friday. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.04 and a beta of 0.72. The company has a fifty day moving average of $8.82 and a 200 day moving average of $9.16. Amcor PLC has a fifty-two week low of $7.90 and a fifty-two week high of $11.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21.

Amcor (NYSE:AMCR - Get Free Report) last posted its earnings results 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). The company had revenue of $5.08 billion for the quarter, compared to analysts' expectations of $5.18 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The business's revenue was up 43.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. As a group, sell-side analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Dividend Announcement

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

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.

Want to see what other hedge funds are holding AMCR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amcor PLC (NYSE:AMCR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.