Wedge Capital Management L L P NC Increases Position in Amcor plc (NYSE:AMCR)

Wedge Capital Management L L P NC increased its holdings in shares of Amcor plc (NYSE:AMCR - Free Report) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 726,942 shares of the company's stock after purchasing an additional 119,123 shares during the period. Wedge Capital Management L L P NC owned approximately 0.05% of Amcor worth $7,008,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Signaturefd LLC grew its stake in Amcor by 1,619.5% in the third quarter. Signaturefd LLC now owns 3,267 shares of the company's stock valued at $30,000 after acquiring an additional 3,077 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in Amcor in the third quarter valued at approximately $38,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Amcor in the fourth quarter valued at approximately $40,000. Loomis Sayles & Co. L P grew its stake in Amcor by 48.2% in the third quarter. Loomis Sayles & Co. L P now owns 4,445 shares of the company's stock valued at $41,000 after acquiring an additional 1,445 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Amcor in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 45.14% of the company's stock.

Amcor Stock Up 0.9 %

Amcor stock traded up $0.08 during mid-day trading on Wednesday, reaching $9.06. The stock had a trading volume of 5,802,343 shares, compared to its average volume of 8,530,303. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.71 and a current ratio of 1.25. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.09. The stock's 50-day simple moving average is $9.19 and its 200-day simple moving average is $9.27. The firm has a market capitalization of $13.09 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 9.93 and a beta of 0.78.

Amcor (NYSE:AMCR - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.29 billion. Amcor had a return on equity of 24.28% and a net margin of 4.59%. On average, sell-side analysts forecast that Amcor plc will post 0.68 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 27th. This represents a $0.50 annualized dividend and a dividend yield of 5.52%. Amcor's payout ratio is 113.64%.

About Amcor

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.