Securian Asset Management Inc. Sells 48,556 Shares of Amcor PLC $AMCR

Securian Asset Management Inc. lowered its stake in Amcor PLC (NYSE:AMCR) by 43.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,768 shares of the company’s stock after selling 48,556 shares during the quarter. Securian Asset Management Inc.’s holdings in Amcor were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMCR. Dakota Wealth Management increased its holdings in Amcor by 74.6% in the 4th quarter. Dakota Wealth Management now owns 345,449 shares of the company’s stock valued at $2,881,000 after acquiring an additional 147,639 shares during the last quarter. PFG Investments LLC bought a new position in Amcor during the fourth quarter valued at approximately $262,000. Vanguard Group Inc. grew its holdings in Amcor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after buying an additional 1,845,627 shares in the last quarter. Nordea Investment Management AB increased its stake in Amcor by 64.0% in the 4th quarter. Nordea Investment Management AB now owns 242,866 shares of the company’s stock worth $2,034,000 after acquiring an additional 94,753 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Amcor by 213.1% during the fourth quarter. GAMMA Investing LLC now owns 126,702 shares of the company’s stock valued at $1,057,000 after purchasing an additional 86,231 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a research report on Thursday, May 7th. Weiss Ratings raised Amcor from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Amcor in a research report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price on the stock. Robert W. Baird set a $54.00 price target on Amcor in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Amcor has an average rating of “Moderate Buy” and an average price target of $49.56.

Amcor Price Performance

NYSE:AMCR opened at $36.71 on Friday. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 1.17 and a beta of 0.63. Amcor PLC has a one year low of $36.67 and a one year high of $50.94. The firm’s fifty day moving average is $40.08 and its two-hundred day moving average is $42.41. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.95 and a current ratio of 1.44.

Amcor (NYSE:AMCR) last posted its earnings results on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a net margin of 3.06% and a return on equity of 14.55%. The business’s revenue was up 77.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Research analysts expect that Amcor PLC will post 3.97 EPS for the current year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.1%. Amcor’s payout ratio is currently 181.82%.

Amcor Profile

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.