Coastline Trust Co lessened its stake in shares of Amcor plc (NYSE:AMCR) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,769 shares of the company’s stock after selling 3,800 shares during the quarter. Coastline Trust Co’s holdings in Amcor were worth $2,114,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Amcor in the second quarter worth $745,182,000. Vanguard Group Inc. purchased a new position in Amcor in the second quarter worth $652,670,000. Invesco Ltd. purchased a new position in Amcor in the second quarter worth $454,432,000. Charles Schwab Investment Management Inc. purchased a new position in Amcor in the second quarter worth $142,713,000. Finally, Northern Trust Corp purchased a new position in Amcor in the second quarter worth $129,824,000. Institutional investors and hedge funds own 26.58% of the company’s stock.
Separately, ValuEngine cut Amcor from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th.
AMCR opened at $9.59 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 15.72 and a beta of 0.76. Amcor plc has a 52 week low of $8.75 and a 52 week high of $11.77. The firm’s fifty day moving average is $9.70.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend was Tuesday, September 10th. Amcor’s payout ratio is currently 78.69%.
In other Amcor news, insider Louis Fred Stephan sold 69,787 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $10.27, for a total value of $716,712.49. 0.23% of the stock is owned by company insiders.
Amcor plc develops, manufactures, and sells various packaging products for food, beverage, pharmaceutical, medical, home and personal care, and other products worldwide. It provides flexible packaging products, specialty cartons, plastic bottles and jars, and capsules and closures. The company is based in Bristol, the United Kingdom.
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