USS Investment Management Ltd Decreases Stock Holdings in Amcor plc (NYSE:AMCR)

USS Investment Management Ltd lowered its stake in shares of Amcor plc (NYSE:AMCR - Free Report) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 471,604 shares of the company's stock after selling 221,970 shares during the period. USS Investment Management Ltd's holdings in Amcor were worth $4,435,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Amcor by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 58,986,593 shares of the company's stock valued at $555,064,000 after purchasing an additional 1,249,868 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company's stock valued at $433,358,000 after buying an additional 2,862,471 shares during the period. Geode Capital Management LLC increased its holdings in shares of Amcor by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 36,856,793 shares of the company's stock worth $345,952,000 after buying an additional 539,756 shares during the last quarter. Invesco Ltd. raised its position in shares of Amcor by 16.0% during the 4th quarter. Invesco Ltd. now owns 30,425,121 shares of the company's stock valued at $286,300,000 after buying an additional 4,199,209 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Amcor by 25.1% in the fourth quarter. Wellington Management Group LLP now owns 27,971,885 shares of the company's stock valued at $263,215,000 after acquiring an additional 5,614,233 shares during the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Amcor Stock Up 2.3%

Shares of AMCR traded up $0.21 during mid-day trading on Tuesday, hitting $9.17. 19,311,209 shares of the company's stock were exchanged, compared to its average volume of 18,829,903. The stock's 50-day moving average is $9.32 and its 200-day moving average is $9.72. 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 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 $13.25 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last released 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 company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. On average, sell-side analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

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. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.56%. Amcor's dividend payout ratio (DPR) is presently 91.07%.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of Amcor stock in a transaction on Thursday, February 27th. The shares were bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMCR shares. Truist Financial cut their target price on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Raymond James began coverage on Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating for the company. Finally, Jefferies Financial Group upgraded shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amcor has an average rating of "Moderate Buy" and an average 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.