OLD National Bancorp IN Acquires Shares of 13,986 Amcor PLC $AMCR

OLD National Bancorp IN acquired a new stake in shares of Amcor PLC (NYSE:AMCR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,986 shares of the company’s stock, valued at approximately $129,000.

Other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its position in Amcor by 839.8% during the second 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 in the last quarter. Rakuten Securities Inc. raised its position in Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company’s stock valued at $29,000 after purchasing an additional 2,996 shares in the last quarter. Adirondack Trust Co. acquired a new position in Amcor during the second quarter valued at approximately $29,000. HM Payson & Co. acquired a new position in Amcor during the first quarter valued at approximately $30,000. Finally, Brentview Investment Management LLC acquired a new position in Amcor during the first quarter valued at approximately $31,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial set a $11.00 target price on shares of Amcor and gave the stock a “buy” rating in a research note on Friday, July 11th. UBS Group raised shares of Amcor from a “neutral” rating to a “buy” rating in a research note on Thursday, June 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amcor in a research note on Wednesday. Jefferies Financial Group assumed coverage on shares of Amcor in a research note on Wednesday, July 2nd. They set a “buy” rating and a $12.00 target price on the stock. Finally, Royal Bank Of Canada assumed coverage on shares of Amcor in a research note on Monday, September 22nd. They set a “sector perform” rating on the stock. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average price target of $11.21.

Amcor Stock Performance

Shares of Amcor stock opened at $7.97 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. Amcor PLC has a twelve month low of $7.90 and a twelve month high of $11.46. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.04 and a beta of 0.73. The company’s fifty day moving average is $8.57 and its 200 day moving average is $9.07.

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 the consensus estimate of $0.21 by ($0.01). Amcor had a return on equity of 19.43% and a net margin of 3.40%.The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the firm earned $0.21 EPS. The business’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. Sell-side analysts forecast that Amcor PLC will post 0.74 EPS for the current year.

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Friday, September 5th were issued a $0.1275 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.51 annualized dividend and a yield of 6.4%. Amcor’s payout ratio is presently 141.67%.

Insider Transactions at Amcor

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

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.