Securian Asset Management Inc. Sells 2,258 Shares of Amcor plc (NYSE:AMCR)

Securian Asset Management Inc. cut its holdings in shares of Amcor plc (NYSE:AMCR) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,680 shares of the company’s stock after selling 2,258 shares during the period. Securian Asset Management Inc.’s holdings in Amcor were worth $731,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after buying an additional 2,862,471 shares during the last quarter. Geode Capital Management LLC boosted its position in Amcor by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock valued at $410,144,000 after buying an additional 697,320 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Amcor by 275.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after buying an additional 4,851,222 shares during the last quarter. Vest Financial LLC boosted its position in Amcor by 7.3% in the 4th quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock valued at $48,248,000 after buying an additional 348,026 shares during the last quarter. Finally, Barclays PLC boosted its position in Amcor by 31.8% in the 3rd quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after buying an additional 1,096,664 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Achal Agarwal purchased 10,000 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMCR has been the topic of a number of recent research reports. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.46.

Amcor Stock Performance

Shares of Amcor stock opened at $9.79 on Monday. The company has a market capitalization of $14.14 billion, a PE ratio of 17.79, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 12 month low of $8.80 and a 12 month high of $11.48. The company has a current ratio of 1.26, a quick ratio of 0.71 and a debt-to-equity ratio of 1.80. The stock’s fifty day simple moving average is $9.90 and its 200 day simple moving average is $10.34.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. On average, research analysts predict that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th will be paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Wednesday, February 26th. Amcor’s payout ratio is presently 92.73%.

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.