Amcor plc (NYSE:AMCR) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Amcor plc (NYSE:AMCR - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,800,798 shares of the company's stock after acquiring an additional 259,233 shares during the quarter. Rhumbline Advisers owned 0.19% of Amcor worth $27,168,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Virtue Capital Management LLC increased its position in Amcor by 2.8% in the 4th quarter. Virtue Capital Management LLC now owns 45,924 shares of the company's stock valued at $432,000 after acquiring an additional 1,259 shares during the period. Utah Retirement Systems increased its position in Amcor by 1.1% in the 4th quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock valued at $1,130,000 after acquiring an additional 1,300 shares during the period. New York Life Investment Management LLC increased its position in Amcor by 0.8% in the 4th quarter. New York Life Investment Management LLC now owns 195,714 shares of the company's stock valued at $1,842,000 after acquiring an additional 1,507 shares during the period. Huntington National Bank increased its position in 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 acquiring an additional 1,522 shares during the period. Finally, Blue Trust Inc. increased its position in 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 acquiring an additional 1,901 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of AMCR stock traded up $0.08 during mid-day trading on Friday, hitting $9.12. 15,595,052 shares of the stock traded hands, compared to its average volume of 19,301,515. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The company's 50-day simple moving average is $9.22 and its 200-day simple moving average is $9.66. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

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

Amcor Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on the company. Raymond James assumed coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Truist Financial lowered their price target on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.