Elo Mutual Pension Insurance Co Sells 6,372 Shares of Amcor plc (NYSE:AMCR)

Elo Mutual Pension Insurance Co decreased its stake in shares of Amcor plc (NYSE:AMCR) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 125,692 shares of the company’s stock after selling 6,372 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Amcor were worth $1,229,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMCR. M&G Plc increased its stake in Amcor by 2,741.7% in the second quarter. M&G Plc now owns 47,164,358 shares of the company’s stock valued at $471,644,000 after acquiring an additional 45,504,608 shares during the period. Wellington Management Group LLP bought a new stake in Amcor in the fourth quarter valued at about $155,438,000. Norges Bank bought a new stake in Amcor in the fourth quarter valued at about $47,669,000. Price T Rowe Associates Inc. MD increased its stake in Amcor by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,604,159 shares of the company’s stock valued at $195,946,000 after acquiring an additional 2,086,698 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Amcor by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 14,721,829 shares of the company’s stock valued at $143,989,000 after buying an additional 1,527,492 shares in the last quarter. Institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on AMCR shares. Wells Fargo & Company boosted their price target on shares of Amcor from $9.80 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their price target 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. Citigroup boosted 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 boosted 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 Friday, August 16th. Finally, Stifel Nicolaus assumed coverage on shares of Amcor in a research report on Tuesday, July 9th. They set a “hold” rating and a $10.80 target price on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.73.

Amcor Price Performance

Shares of AMCR stock opened at $10.90 on Friday. Amcor plc has a 1 year low of $8.45 and a 1 year high of $11.45. The firm’s 50 day moving average is $10.73 and its 200-day moving average is $10.02. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 2.68 and a beta of 0.85. The company has a current ratio of 1.17, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67.

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

Amcor Announces Dividend

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

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.