Vestmark Advisory Solutions Inc. Makes New $94,000 Investment in Amcor PLC $AMCR

Vestmark Advisory Solutions Inc. bought a new position in Amcor PLC (NYSE:AMCR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,253 shares of the company’s stock, valued at approximately $94,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in Amcor by 8.9% during the 1st quarter. Cerity Partners LLC now owns 83,560 shares of the company’s stock valued at $811,000 after purchasing an additional 6,834 shares during the period. Bleakley Financial Group LLC raised its stake in Amcor by 20.5% in the first quarter. Bleakley Financial Group LLC now owns 33,145 shares of the company’s stock worth $322,000 after buying an additional 5,629 shares in the last quarter. Sigma Planning Corp raised its stake in Amcor by 17.5% in the first quarter. Sigma Planning Corp now owns 38,694 shares of the company’s stock worth $375,000 after buying an additional 5,750 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Amcor by 45.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 14,428 shares of the company’s stock worth $140,000 after buying an additional 4,501 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in Amcor during the first quarter worth $154,000. 45.14% of the stock is currently owned by institutional investors.

Amcor Stock Up 2.0%

Amcor stock opened at $8.58 on Friday. The business’s 50-day simple moving average is $8.16 and its two-hundred day simple moving average is $8.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The company has a market cap of $19.77 billion, a PE ratio of 23.82, a PEG ratio of 1.14 and a beta of 0.72. Amcor PLC has a fifty-two week low of $7.66 and a fifty-two week high of $10.70.

Amcor (NYSE:AMCR) last released its earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was up 71.3% compared to the same quarter last year. Equities analysts anticipate that Amcor PLC will post 0.74 EPS for the current year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 annualized dividend and a yield of 6.1%. This is an increase from Amcor’s previous quarterly dividend of $0.13. Amcor’s payout ratio is 152.94%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMCR shares. Wells Fargo & Company cut their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, October 15th. Royal Bank Of Canada began coverage on shares of Amcor in a report on Monday, September 22nd. They issued a “sector perform” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Amcor in a research note on Wednesday, September 10th. They issued a “buy” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $11.50 price objective on shares of Amcor in a report on Wednesday. Finally, Robert W. Baird reduced their target price on Amcor from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Amcor has a consensus rating of “Moderate Buy” and a consensus target price of $10.91.

Insiders Place Their Bets

In related news, Director Stephen E. Sterrett acquired 10,000 shares of Amcor stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $8.55 per share, for a total transaction of $85,500.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately $85,500. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% 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.