Amcor (NYSE:AMCR) Hits New 12-Month Low – Here’s Why

Amcor plc (NYSE:AMCR) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.74 and last traded at $8.80, with a volume of 2104504 shares. The stock had previously closed at $9.22.

Analyst Ratings Changes

Several brokerages have recently commented on AMCR. Jefferies Financial Group upgraded 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 research report on Wednesday, December 11th. Citigroup raised 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 report on Monday, January 6th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective on the stock in a report on Wednesday, December 11th. Finally, Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $12.00 in a research note on Monday, January 6th. Three 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Down 4.1 %

The company has a quick ratio of 0.71, a current ratio of 1.26 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $12.36 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 1.96 and a beta of 0.78. The business’s 50-day moving average is $9.84 and its 200-day moving average is $10.14.

Amcor (NYSE:AMCR) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. As a group, equities analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th were given a $0.1275 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.96%. Amcor’s dividend payout ratio (DPR) is 92.73%.

Insider Buying and Selling

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

Institutional Trading of Amcor

A number of hedge funds and other institutional investors have recently modified their holdings of AMCR. Czech National Bank raised its holdings in shares of Amcor by 5.9% in the 1st quarter. Czech National Bank now owns 331,973 shares of the company’s stock valued at $3,220,000 after buying an additional 18,594 shares during the period. Rhumbline Advisers increased its stake in Amcor by 10.2% during the first quarter. Rhumbline Advisers now owns 2,800,798 shares of the company’s stock worth $27,168,000 after purchasing an additional 259,233 shares during the period. Parallel Advisors LLC lifted its position in shares of Amcor by 53.2% during the first quarter. Parallel Advisors LLC now owns 6,114 shares of the company’s stock worth $59,000 after purchasing an additional 2,122 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Amcor by 767.4% in the first quarter. GAMMA Investing LLC now owns 345,727 shares of the company’s stock valued at $35,642,000 after purchasing an additional 305,867 shares during the period. Finally, Moody National Bank Trust Division acquired a new position in shares of Amcor in the first quarter valued at approximately $100,000. 45.14% of the stock is owned by institutional investors and hedge funds.

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.