Forum Financial Management LP Boosts Stock Holdings in Amcor plc (NYSE:AMCR)

Forum Financial Management LP boosted its position in Amcor plc (NYSE:AMCR - Free Report) by 288.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,285 shares of the company's stock after buying an additional 42,524 shares during the period. Forum Financial Management LP's holdings in Amcor were worth $539,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its stake in Amcor by 247.4% during the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after acquiring an additional 2,660 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Amcor during the fourth quarter worth approximately $44,000. Huntington National Bank lifted its holdings in shares of Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock worth $42,000 after purchasing an additional 1,522 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Amcor during the fourth quarter worth $60,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company's stock valued at $69,000 after buying an additional 7,249 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of Amcor stock traded down $0.12 during trading hours on Friday, reaching $9.54. The company had a trading volume of 25,821,230 shares, compared to its average volume of 15,578,190. 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 one year low of $8.37 and a one year high of $11.48. The firm has a market cap of $13.79 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The business has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $9.98.

Amcor (NYSE:AMCR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The firm had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The company's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, analysts anticipate that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.35%. The ex-dividend date was Wednesday, February 26th. Amcor's dividend payout ratio is 92.73%.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial decreased their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday. Raymond James assumed coverage on shares of Amcor in a report on Tuesday. They set a "market perform" rating on the stock. Citigroup upgraded Amcor from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised Amcor from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.31.

Insider Buying and Selling

In related news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 88,967 shares of the company's stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

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.