Entropy Technologies LP Takes Position in Amcor plc (NYSE:AMCR)

Entropy Technologies LP acquired a new position in shares of Amcor plc (NYSE:AMCR) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 30,473 shares of the company’s stock, valued at approximately $345,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Amcor by 2.1% during the first quarter. Vanguard Group Inc. now owns 56,749,318 shares of the company’s stock worth $539,686,000 after buying an additional 1,170,986 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Amcor during the 1st quarter worth $923,000. O Shaughnessy Asset Management LLC increased its holdings in Amcor by 236.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,648,279 shares of the company’s stock worth $15,675,000 after purchasing an additional 1,157,878 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in Amcor in the first quarter valued at about $114,000. Finally, CreativeOne Wealth LLC acquired a new stake in shares of Amcor during the first quarter valued at about $747,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMCR shares. JPMorgan Chase & Co. upped their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Amcor from $10.50 to $10.80 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird boosted their price objective on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amcor currently has an average rating of “Hold” and an average target price of $10.94.

Amcor Stock Up 0.4 %

Shares of NYSE AMCR opened at $10.22 on Friday. The company’s 50 day moving average price is $10.92 and its 200-day moving average price is $10.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a 52-week low of $8.78 and a 52-week high of $11.48. The company has a market capitalization of $14.77 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85.

Amcor (NYSE:AMCR) last released its earnings results on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Amcor had a net margin of 5.68% and a return on equity of 25.60%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $0.16 earnings per share. Amcor’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts forecast that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Thursday, November 21st. Amcor’s payout ratio is presently 94.34%.

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.