Alan B Lancz & Associates Inc. Reduces Position in Amcor plc (NYSE:AMCR)

Alan B Lancz & Associates Inc. lowered its position in Amcor plc (NYSE:AMCR) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,089 shares of the company’s stock after selling 4,080 shares during the quarter. Alan B Lancz & Associates Inc.’s holdings in Amcor were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AMCR. Barclays PLC boosted its stake in Amcor by 31.8% during the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after purchasing an additional 1,096,664 shares during the period. Franklin Resources Inc. raised its holdings in shares of Amcor by 39.3% in the third quarter. Franklin Resources Inc. now owns 719,749 shares of the company’s stock valued at $8,162,000 after buying an additional 203,166 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Amcor by 24.5% during the third quarter. Natixis Advisors LLC now owns 634,631 shares of the company’s stock worth $7,190,000 after buying an additional 124,945 shares during the period. Cerity Partners LLC grew its holdings in shares of Amcor by 78.7% during the third quarter. Cerity Partners LLC now owns 217,498 shares of the company’s stock worth $2,464,000 after buying an additional 95,805 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Amcor in the 3rd quarter valued at about $5,919,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Stock Performance

Shares of AMCR opened at $9.75 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a 50-day simple moving average of $9.84 and a 200-day simple moving average of $10.44. The company has a market capitalization of $14.09 billion, a PE ratio of 18.39, a P/E/G ratio of 1.86 and a beta of 0.84.

Amcor (NYSE:AMCR) last issued its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. Equities research analysts predict that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.23%. This is an increase from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. Amcor’s payout ratio is presently 96.23%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMCR. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price for the company in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.46.

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.