Intech Investment Management LLC Purchases 124,547 Shares of Amcor plc (NYSE:AMCR)

Intech Investment Management LLC increased its position in shares of Amcor plc (NYSE:AMCR) by 242.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,853 shares of the company’s stock after acquiring an additional 124,547 shares during the quarter. Intech Investment Management LLC’s holdings in Amcor were worth $1,720,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Riverview Trust Co purchased a new position in Amcor in the first quarter worth $28,000. Quent Capital LLC increased its position in Amcor by 51.8% during the 2nd quarter. Quent Capital LLC now owns 3,638 shares of the company’s stock valued at $36,000 after buying an additional 1,241 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Amcor by 132.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,416 shares of the company’s stock valued at $39,000 after buying an additional 2,519 shares during the last quarter. UMB Bank n.a. boosted its holdings in Amcor by 38.7% in the second quarter. UMB Bank n.a. now owns 4,656 shares of the company’s stock worth $46,000 after acquiring an additional 1,299 shares in the last quarter. Finally, ORG Partners LLC acquired a new stake in Amcor in the second quarter worth about $47,000. Institutional investors own 45.14% of the company’s stock.

Amcor Stock Performance

Shares of AMCR stock opened at $11.08 on Tuesday. The stock has a market cap of $16.01 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85. Amcor plc has a 52-week low of $8.45 and a 52-week high of $11.45. The business has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $10.04. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 1.67.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $1.30 billion. During the same quarter last year, the company earned $0.19 EPS. The business’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts expect that Amcor plc will post 0.75 EPS for the current year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, September 6th will be given a $0.125 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.51%. Amcor’s dividend payout ratio (DPR) is currently 111.11%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMCR. Wells Fargo & Company lifted their target price on shares of Amcor from $9.80 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Stifel Nicolaus initiated coverage on shares of Amcor in a research note on Tuesday, July 9th. They set a “hold” rating and a $10.80 price objective for the company. Robert W. Baird upped their target price on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Citigroup boosted their price target on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price objective on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Amcor has an average rating of “Hold” and a consensus target price 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.