Nordea Investment Management AB Grows Holdings in Amcor PLC $AMCR

Nordea Investment Management AB grew its holdings in Amcor PLC (NYSE:AMCR) by 83.9% during the second quarter, HoldingsChannel.com reports. The firm owned 130,971 shares of the company’s stock after acquiring an additional 59,753 shares during the quarter. Nordea Investment Management AB’s holdings in Amcor were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in Amcor by 839.8% in the second quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after purchasing an additional 2,704 shares during the period. HM Payson & Co. purchased a new stake in Amcor in the first quarter worth $30,000. Brentview Investment Management LLC purchased a new stake in Amcor in the first quarter worth $31,000. Adirondack Trust Co. purchased a new stake in Amcor in the second quarter worth $29,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in Amcor in the second quarter worth $33,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average price of $8.55 per share, with a total value of $85,500.00. Following the completion of the transaction, the director directly owned 10,000 shares in the company, valued at $85,500. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMCR shares. Jefferies Financial Group started coverage on Amcor in a research note on Wednesday, July 2nd. They issued a “buy” rating and a $12.00 target price on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Stifel Nicolaus upgraded Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target on the stock in a research note on Friday, October 10th. Royal Bank Of Canada began coverage on Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating on the stock. Finally, Wells Fargo & Company cut their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.84.

Amcor Price Performance

Shares of AMCR stock opened at $8.24 on Friday. Amcor PLC has a 1-year low of $7.81 and a 1-year high of $11.24. The stock’s 50-day moving average is $8.27 and its 200 day moving average is $8.96. The company has a market cap of $18.98 billion, a P/E ratio of 22.88, a PEG ratio of 1.16 and a beta of 0.73. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.21 and a quick ratio of 0.71.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). Amcor had a net margin of 3.40% and a return on equity of 19.43%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the business earned $0.21 EPS. Amcor’s revenue for the quarter was up 43.8% compared to the same quarter last year. Amcor has set its FY 2026 guidance at 0.800-0.830 EPS. Research analysts predict that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.51 dividend on an annualized basis and a yield of 6.2%. Amcor’s dividend payout ratio (DPR) is presently 141.67%.

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.