American International Group Inc. Trims Holdings in Amcor plc (NYSE:AMCR)

American International Group Inc. decreased its position in shares of Amcor plc (NYSE:AMCR) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 378,968 shares of the company’s stock after selling 10,455 shares during the quarter. American International Group Inc.’s holdings in Amcor were worth $3,653,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Amcor by 12.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock valued at $2,377,000 after purchasing an additional 27,077 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Amcor by 173.4% in the 4th quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock valued at $3,006,000 after buying an additional 197,760 shares during the period. Vanguard Group Inc. boosted its stake in shares of Amcor by 0.6% in the third quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock worth $517,349,000 after buying an additional 325,747 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Amcor by 20.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock worth $12,974,000 after buying an additional 227,145 shares during the last quarter. Finally, Element Capital Management LLC acquired a new stake in Amcor during the fourth quarter worth about $763,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

NYSE AMCR opened at $9.95 on Monday. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 5.38 and a beta of 0.85. The stock has a 50-day moving average of $9.80 and a 200 day moving average of $9.54. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. Amcor plc has a twelve month low of $8.45 and a twelve month high of $10.51.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.49 billion. Amcor had a return on equity of 24.66% and a net margin of 4.75%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Sell-side analysts anticipate that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.03%. Amcor’s dividend payout ratio is currently 111.11%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price objective on Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st.

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.