Elo Mutual Pension Insurance Co Purchases 9,548 Shares of Amcor PLC $AMCR

Elo Mutual Pension Insurance Co increased its position in Amcor PLC (NYSE:AMCR) by 4.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,624 shares of the company’s stock after buying an additional 9,548 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Amcor were worth $2,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its stake in shares of Amcor by 377.9% during the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock worth $26,000 after purchasing an additional 2,222 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock valued at $28,000 after purchasing an additional 2,704 shares during the last quarter. Adirondack Trust Co. acquired a new stake in shares of Amcor in the 2nd quarter valued at $29,000. Brentview Investment Management LLC bought a new stake in Amcor in the first quarter worth $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in Amcor during the second quarter worth $33,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

AMCR opened at $8.62 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average price is $8.20 and its two-hundred day moving average price is $8.80. The firm has a market capitalization of $19.86 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Amcor PLC has a 12-month low of $7.66 and a 12-month high of $10.70.

Amcor (NYSE:AMCR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.77 billion. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The company’s quarterly revenue was up 71.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. On average, equities analysts forecast that Amcor PLC will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 28th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, November 28th. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio is currently 152.94%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMCR shares. Stifel Nicolaus raised Amcor from a “hold” rating to a “buy” rating and set a $10.20 price target for the company in a research report on Friday, October 10th. Royal Bank Of Canada started coverage on Amcor in a research note on Monday, September 22nd. They issued a “sector perform” rating on the stock. Robert W. Baird reduced their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, August 15th. JPMorgan Chase & Co. started coverage on Amcor in a report on Friday, September 19th. They set an “overweight” rating and a $10.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.91.

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.