Dimensional Fund Advisors LP Grows Position in Amcor plc (NYSE:AMCR)

Dimensional Fund Advisors LP lifted its holdings in shares of Amcor plc (NYSE:AMCR) by 11.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,721,829 shares of the company’s stock after purchasing an additional 1,527,492 shares during the quarter. Dimensional Fund Advisors LP owned 1.02% of Amcor worth $143,989,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. WINTON GROUP Ltd bought a new position in Amcor in the second quarter valued at $392,000. Element Capital Management LLC purchased a new position in shares of Amcor during the second quarter worth approximately $152,000. Thoroughbred Financial Services LLC bought a new stake in shares of Amcor in the 2nd quarter worth approximately $183,000. HBK Sorce Advisory LLC boosted its stake in shares of Amcor by 31.5% in the 2nd quarter. HBK Sorce Advisory LLC now owns 19,003 shares of the company’s stock valued at $186,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in shares of Amcor by 23.5% during the 2nd quarter. Meeder Advisory Services Inc. now owns 47,239 shares of the company’s stock valued at $462,000 after purchasing an additional 9,004 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Trading Down 1.9 %

NYSE AMCR opened at $10.90 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.69 and a current ratio of 1.17. The stock has a market cap of $15.75 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. The stock has a 50 day simple moving average of $10.73 and a two-hundred day simple moving average of $10.02. Amcor plc has a fifty-two week low of $8.45 and a fifty-two week high of $11.45.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $1.30 billion. Amcor had a net margin of 5.35% and a return on equity of 25.45%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. On average, analysts forecast that Amcor plc will post 0.75 earnings per share for the current year.

Amcor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, September 6th will be paid a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.50 annualized dividend and a yield of 4.59%. Amcor’s payout ratio is 111.11%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup upped their price target on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird increased their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Stifel Nicolaus began coverage on Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company raised their target price on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Amcor has an average rating of “Hold” and a consensus price target of $10.73.

About Amcor

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.