Voloridge Investment Management LLC Invests $4.77 Million in Amcor plc (NYSE:AMCR)

Voloridge Investment Management LLC acquired a new position in shares of Amcor plc (NYSE:AMCR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 506,368 shares of the company's stock, valued at approximately $4,765,000.

Several other hedge funds have also made changes to their positions in the business. Utah Retirement Systems boosted its holdings in shares of Amcor by 1.1% during the fourth quarter. Utah Retirement Systems now owns 120,076 shares of the company's stock worth $1,130,000 after purchasing an additional 1,300 shares during the last quarter. New York Life Investment Management LLC boosted 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 during the last quarter. Huntington National Bank boosted 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 during the last quarter. Blue Trust Inc. boosted 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 during the last quarter. Finally, SlateStone Wealth LLC boosted 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 during the last quarter. Institutional investors and hedge funds own 45.14% of the company's stock.

Analyst Ratings Changes

AMCR has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Amcor from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Raymond James initiated 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.31.

Amcor Stock Up 0.3%

Shares of AMCR traded up $0.03 during midday trading on Friday, reaching $9.11. 36,452,935 shares of the company were exchanged, compared to its average volume of 19,075,028. The stock has a 50-day moving average price of $9.29 and a 200-day moving average price of $9.69. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 1.96 and a beta of 0.78. Amcor plc has a 1-year low of $8.37 and a 1-year high of $11.48. 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 (NYSE:AMCR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The company 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 firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Research analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's payout ratio is 91.07%.

Amcor Company 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.