Price T Rowe Associates Inc. MD Acquires 85,978 Shares of Amcor plc (NYSE:AMCR)

Price T Rowe Associates Inc. MD boosted its position in shares of Amcor plc (NYSE:AMCR - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,492,625 shares of the company's stock after purchasing an additional 85,978 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.86% of Amcor worth $117,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. CWA Asset Management Group LLC lifted its stake in Amcor by 3.9% during the 4th quarter. CWA Asset Management Group LLC now owns 32,343 shares of the company's stock valued at $304,000 after acquiring an additional 1,213 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in shares of Amcor by 11.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 13,892 shares of the company's stock valued at $131,000 after purchasing an additional 1,409 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 worth $1,842,000 after purchasing an additional 1,507 shares during the last quarter. Huntington National Bank grew its position in 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 during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Amcor by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 442,152 shares of the company's stock valued at $4,161,000 after buying an additional 1,761 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial cut their price objective on Amcor from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Raymond James initiated coverage on Amcor in a research report on Tuesday, April 22nd. They issued a "market perform" rating on the stock. Citigroup raised shares of Amcor from a "neutral" rating to a "buy" rating and upped their price target for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Amcor from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.31.

Amcor Price Performance

NYSE:AMCR traded up $0.25 during trading hours on Friday, hitting $9.33. 32,756,748 shares of the stock traded hands, compared to its average volume of 17,301,228. The stock has a 50 day moving average price of $9.59 and a 200 day moving average price of $9.92. The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth 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.

Amcor (NYSE:AMCR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor's quarterly 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. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Thursday, May 22nd. Amcor's dividend payout ratio (DPR) is presently 92.73%.

Insider Activity at Amcor

In related news, Director Achal Agarwal purchased 10,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

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.