Mork Capital Management LLC Takes $996,000 Position in Amcor plc (NYSE:AMCR)

Mork Capital Management LLC acquired a new position in shares of Amcor plc (NYSE:AMCR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 105,800 shares of the company's stock, valued at approximately $996,000.

A number of other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of Amcor by 247.4% during the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company's stock worth $35,000 after purchasing an additional 2,660 shares during the period. Quarry LP raised its stake in Amcor by 2,064.5% in the 4th quarter. Quarry LP now owns 3,723 shares of the company's stock valued at $35,000 after acquiring an additional 3,551 shares during the period. Huntington National Bank grew its holdings in Amcor by 52.4% during the 4th quarter. Huntington National Bank now owns 4,426 shares of the company's stock valued at $42,000 after buying an additional 1,522 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Amcor during the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Amcor during the fourth quarter worth about $60,000. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Trading Up 1.5%

Shares of Amcor stock traded up $0.14 during midday trading on Friday, reaching $9.45. 21,853,986 shares of the company's stock traded hands, compared to its average volume of 18,399,981. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market cap of $13.66 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78. The stock has a 50 day moving average of $9.41 and a 200-day moving average of $9.79. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. As a group, equities analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 22nd will be issued a $0.1275 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a yield of 5.40%. Amcor's dividend payout ratio (DPR) is 91.07%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial cut their target price on shares of Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a research 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 began coverage on Amcor in a research report on Tuesday, April 22nd. They set a "market perform" rating on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Amcor currently has an average rating of "Moderate Buy" and an average price target of $11.31.

Insiders Place Their Bets

In other news, Director Achal Agarwal acquired 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at $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 this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.