Headlands Technologies LLC Takes $217,000 Position in Amcor plc (NYSE:AMCR)

Headlands Technologies LLC bought a new stake in Amcor plc (NYSE:AMCR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,018 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Amcor by 5.6% during the 3rd quarter. FMR LLC now owns 2,389,346 shares of the company’s stock worth $27,071,000 after buying an additional 126,844 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Amcor by 13.3% during the third quarter. Public Sector Pension Investment Board now owns 62,922 shares of the company’s stock worth $713,000 after purchasing an additional 7,400 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in Amcor in the third quarter valued at approximately $508,000. Centiva Capital LP purchased a new position in Amcor in the third quarter valued at approximately $1,083,000. Finally, Hilltop Holdings Inc. increased its stake in Amcor by 105.7% in the third quarter. Hilltop Holdings Inc. now owns 41,088 shares of the company’s stock valued at $466,000 after purchasing an additional 21,117 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Transactions at Amcor

In related news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This trade represents a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Amcor Price Performance

Shares of NYSE AMCR opened at $9.22 on Friday. The stock has a fifty day moving average price of $9.91 and a 200 day moving average price of $10.19. Amcor plc has a 1-year low of $8.80 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The company has a market cap of $13.32 billion, a PE ratio of 16.75, a P/E/G ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the business earned $0.09 EPS. The business’s revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 5.53%. The ex-dividend date was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. 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 report on Wednesday, December 11th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 11th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Truist Financial upgraded 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. Three research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Company 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.