OVERSEA CHINESE BANKING Corp Ltd Purchases 214,287 Shares of Amcor plc (NYSE:AMCR)

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Amcor plc (NYSE:AMCR) by 41.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 731,063 shares of the company’s stock after acquiring an additional 214,287 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Amcor were worth $6,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Amcor by 3,410.3% in the third 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 in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Amcor by 247.4% in the fourth quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock valued at $35,000 after purchasing an additional 2,660 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Amcor by 3,794.1% in the third quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Amcor in the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Amcor in the fourth quarter valued at approximately $60,000. Institutional investors own 45.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the acquisition, the director now directly owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. The trade was a 12.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Amcor Stock Performance

NYSE:AMCR opened at $9.91 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. The business has a fifty day simple moving average of $9.92 and a two-hundred day simple moving average of $10.32. Amcor plc has a 1 year low of $8.80 and a 1 year high of $11.48. The company has a market capitalization of $14.32 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.96 and a beta of 0.80.

Amcor (NYSE:AMCR) last released its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. Amcor had a return on equity of 26.14% and a net margin of 5.89%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date was Wednesday, February 26th. Amcor’s dividend payout ratio is currently 92.73%.

Analyst Ratings Changes

AMCR has been the topic of a number of recent research reports. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 27th. Citigroup upgraded Amcor from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $12.00 in a report on Monday, January 6th. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, UBS Group raised Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amcor currently has an average rating of “Moderate Buy” and an average target price of $11.46.

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.