UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 893,442 Shares of Amcor plc (NYSE:AMCR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Amcor plc (NYSE:AMCR) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,506,911 shares of the company’s stock after purchasing an additional 893,442 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.52% of Amcor worth $70,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMCR. Jones Financial Companies Lllp increased its holdings in 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 purchasing an additional 2,660 shares during the last quarter. Quarry LP increased its holdings in shares of Amcor by 2,064.5% in the fourth quarter. Quarry LP now owns 3,723 shares of the company’s stock worth $35,000 after acquiring an additional 3,551 shares in the last quarter. Huntington National Bank increased its holdings in shares of Amcor by 52.4% in the fourth quarter. Huntington National Bank now owns 4,426 shares of the company’s stock worth $42,000 after acquiring an additional 1,522 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Amcor in the fourth quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Amcor in the fourth quarter worth about $60,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Down 0.8%

NYSE:AMCR opened at $8.96 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26. The company has a market cap of $12.94 billion, a PE ratio of 16.28, a PEG ratio of 1.96 and a beta of 0.78. Amcor plc has a 52-week low of $8.37 and a 52-week high of $11.48. The stock has a 50-day simple moving average of $9.34 and a 200 day simple moving average of $9.73.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. On average, sell-side analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.1275 per share. The ex-dividend date is Thursday, May 22nd. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.70%. Amcor’s payout ratio is presently 91.07%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMCR shares. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Raymond James started coverage on Amcor in a report on Tuesday, April 22nd. They issued a “market perform” rating for the company. Finally, Truist Financial lowered their price target on Amcor from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.31.

Insider Buying and Selling

In other news, Director Achal Agarwal acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.10 per share, for a total transaction of $101,000.00. Following the completion of the acquisition, the director now owns 88,967 shares in the company, valued at $898,566.70. This represents a 12.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate 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.