MetLife Investment Management LLC Decreases Stock Position in Amcor plc (NYSE:AMCR)

MetLife Investment Management LLC lessened its holdings in Amcor plc (NYSE:AMCR) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 375,696 shares of the company’s stock after selling 9,686 shares during the quarter. MetLife Investment Management LLC’s holdings in Amcor were worth $4,257,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Larson Financial Group LLC lifted its position in Amcor by 3,410.3% during the 3rd quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after acquiring an additional 2,319 shares during the period. Rise Advisors LLC purchased a new position in shares of Amcor in the third quarter worth about $35,000. ORG Wealth Partners LLC acquired a new stake in shares of Amcor during the third quarter worth about $35,000. Quent Capital LLC boosted its position in Amcor by 51.8% in the second 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 during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Amcor by 132.8% in 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. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMCR shares. Wells Fargo & Company lifted their price objective on shares of Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup increased their price target on Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird boosted their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their target price on Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Amcor Stock Up 1.3 %

AMCR opened at $10.64 on Monday. The company has a fifty day moving average of $10.80 and a two-hundred day moving average of $10.51. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.74 and a current ratio of 1.29. Amcor plc has a fifty-two week low of $8.78 and a fifty-two week high of $11.48. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.92 and a beta of 0.85.

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

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.79%. Amcor’s dividend payout ratio (DPR) is 96.23%.

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.