Amcor plc (NYSE:AMCR) Position Reduced by USS Investment Management Ltd

USS Investment Management Ltd cut its position in Amcor plc (NYSE:AMCR - Free Report) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 471,604 shares of the company's stock after selling 221,970 shares during the quarter. USS Investment Management Ltd's holdings in Amcor were worth $4,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Utah Retirement Systems raised its holdings in Amcor by 1.1% in the fourth 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 in the last quarter. New York Life Investment Management LLC raised its holdings in Amcor by 0.8% in the fourth 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 in the last quarter. Huntington National Bank raised its holdings in 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 acquiring an additional 1,522 shares in the last quarter. Blue Trust Inc. raised its holdings in Amcor by 18.4% in the fourth 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 in the last quarter. Finally, SlateStone Wealth LLC raised its holdings in Amcor by 3.1% in the fourth quarter. SlateStone Wealth LLC now owns 66,550 shares of the company's stock valued at $626,000 after acquiring an additional 2,000 shares in the last quarter. 45.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at approximately $898,566.70. This trade represents a 12.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by insiders.

Amcor Stock Performance

Shares of AMCR stock traded down $0.08 during trading hours on Wednesday, reaching $9.10. The stock had a trading volume of 10,180,019 shares, compared to its average volume of 18,832,760. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a twelve month low of $8.37 and a twelve month high of $11.48. The firm has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $9.71. The firm has a market capitalization of $13.15 billion, a PE ratio of 16.54, a price-to-earnings-growth 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 analysts' consensus estimates of $0.18. The firm had revenue of $3.33 billion during 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%. Amcor's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. As a group, equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current 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 given 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 5.61%. Amcor's dividend payout ratio is presently 91.07%.

Analyst Ratings Changes

Several research firms recently issued reports on AMCR. Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Truist Financial dropped their target price 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. Finally, Raymond James started coverage on shares of Amcor in a report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amcor presently 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.