Nomura Asset Management Co. Ltd. Purchases 572,832 Shares of Amcor PLC $AMCR

Nomura Asset Management Co. Ltd. boosted its position in Amcor PLC (NYSE:AMCR) by 12.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,290,532 shares of the company’s stock after acquiring an additional 572,832 shares during the period. Nomura Asset Management Co. Ltd. owned 1.15% of Amcor worth $44,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its stake in Amcor by 137.9% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,450 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the period. Larson Financial Group LLC raised its stake in Amcor by 46.1% in the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after acquiring an additional 1,257 shares during the period. N.E.W. Advisory Services LLC raised its stake in Amcor by 10.1% in the 4th quarter. N.E.W. Advisory Services LLC now owns 4,070 shares of the company’s stock valued at $34,000 after acquiring an additional 373 shares during the period. CYBER HORNET ETFs LLC bought a new stake in Amcor in the 2nd quarter valued at about $36,000. Finally, Huntington National Bank raised its stake in Amcor by 81.8% in the 3rd quarter. Huntington National Bank now owns 4,490 shares of the company’s stock valued at $37,000 after acquiring an additional 2,020 shares during the period. 45.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Amcor from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company set a $41.00 price objective on Amcor and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Amcor in a report on Wednesday, April 1st. They set a “buy” rating and a $50.00 target price for the company. Truist Financial reaffirmed a “buy” rating and set a $51.00 target price (up from $50.00) on shares of Amcor in a report on Thursday, May 7th. Finally, Robert W. Baird set a $54.00 target price on Amcor in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Amcor Stock Up 0.1%

AMCR stock opened at $38.87 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $17.97 billion, a PE ratio of 27.18, a PEG ratio of 1.17 and a beta of 0.64. Amcor PLC has a twelve month low of $36.25 and a twelve month high of $50.94. The stock has a 50-day simple moving average of $39.45 and a two-hundred day simple moving average of $42.27.

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

Amcor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Thursday, May 28th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date is Thursday, May 28th. Amcor’s dividend payout ratio (DPR) is 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.