Mutual of America Capital Management LLC Has $2.02 Million Stock Holdings in Amcor plc (NYSE:AMCR)

Mutual of America Capital Management LLC trimmed its stake in shares of Amcor plc (NYSE:AMCR) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 177,961 shares of the company’s stock after selling 4,314 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Amcor were worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Amcor in the third quarter valued at approximately $35,000. ORG Wealth Partners LLC acquired a new position in Amcor during the 3rd quarter valued at about $35,000. Quent Capital LLC boosted its stake in shares of Amcor by 51.8% in the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after purchasing an additional 1,241 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amcor by 132.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock worth $39,000 after buying an additional 2,519 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of Amcor by 38.7% during the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after buying an additional 1,299 shares during the last quarter. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

Shares of NYSE:AMCR opened at $10.49 on Monday. Amcor plc has a 1-year low of $8.78 and a 1-year high of $11.48. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. The stock has a market cap of $15.16 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The stock’s fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $10.51.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, analysts forecast that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be issued a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.86%. Amcor’s dividend payout ratio is presently 96.23%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup upped their target price on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price objective on shares of Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Robert W. Baird upped their price objective on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company lifted their target price on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Amcor currently has an average rating of “Hold” and a consensus price target of $10.94.

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.