Renaissance Technologies LLC Lowers Stake in Amcor plc (NYSE:AMCR)

Renaissance Technologies LLC lessened its holdings in Amcor plc (NYSE:AMCR) by 44.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,084,634 shares of the company’s stock after selling 1,641,666 shares during the quarter. Renaissance Technologies LLC’s holdings in Amcor were worth $19,616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMCR. Jones Financial Companies Lllp increased its position in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after buying an additional 2,660 shares in the last quarter. Huntington National Bank grew its stake in shares of Amcor by 52.4% in the 4th quarter. Huntington National Bank now owns 4,426 shares of the company’s stock valued at $42,000 after buying an additional 1,522 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Amcor in the fourth quarter valued at approximately $44,000. SBI Securities Co. Ltd. purchased a new position in Amcor in the fourth quarter worth approximately $60,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Amcor by 11,326.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,313 shares of the company’s stock worth $69,000 after acquiring an additional 7,249 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Trading Up 3.5 %

AMCR opened at $9.34 on Monday. The business has a fifty day moving average price of $9.79 and a 200 day moving average price of $10.08. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a 12 month low of $8.37 and a 12 month high of $11.48. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.96 and a beta of 0.78.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts expect that Amcor plc will post 0.74 earnings per share for the current fiscal year.

Amcor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s dividend payout ratio is presently 92.73%.

Wall Street Analyst Weigh In

AMCR has been the topic of several research analyst reports. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amcor has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Insider Activity

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now owns 88,967 shares in the company, valued at $898,566.70. The trade was a 12.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Amcor 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.