Twin Tree Management LP Invests $1.98 Million in Amcor plc (NYSE:AMCR)

Twin Tree Management LP bought a new position in Amcor plc (NYSE:AMCR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 210,367 shares of the company’s stock, valued at approximately $1,980,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its holdings in Amcor by 3,410.3% in the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after purchasing an additional 2,319 shares in the last quarter. True Wealth Design LLC grew its position in shares of Amcor by 3,794.1% in the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after buying an additional 2,660 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Amcor in the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AMCR shares. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Bank of America raised Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target for the company in a research report on Wednesday, December 11th. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.46.

Insider Transactions at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $9.91 on Wednesday. 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 business has a fifty day simple moving average of $9.92 and a two-hundred day simple moving average of $10.32. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a market capitalization of $14.32 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were issued a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is currently 92.73%.

Amcor 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.