KLP Kapitalforvaltning AS Invests $4.90 Million in Amcor plc (NYSE:AMCR)

KLP Kapitalforvaltning AS acquired a new stake in Amcor plc (NYSE:AMCR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 520,992 shares of the company’s stock, valued at approximately $4,903,000.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Amcor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock valued at $433,358,000 after acquiring an additional 2,862,471 shares during the period. Geode Capital Management LLC grew its holdings in Amcor by 2.0% during the third quarter. Geode Capital Management LLC now owns 36,317,037 shares of the company’s stock worth $410,144,000 after purchasing an additional 697,320 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Amcor by 275.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock worth $74,931,000 after buying an additional 4,851,222 shares during the last quarter. Vest Financial LLC increased its position in Amcor by 7.3% during the fourth quarter. Vest Financial LLC now owns 5,127,348 shares of the company’s stock worth $48,248,000 after buying an additional 348,026 shares during the last quarter. Finally, Barclays PLC raised its stake in Amcor by 31.8% in the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock valued at $51,484,000 after buying an additional 1,096,664 shares during the period. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amcor

In other Amcor news, Director Achal Agarwal acquired 10,000 shares of Amcor stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This represents a 12.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

Amcor Price Performance

Amcor stock opened at $9.43 on Wednesday. The stock’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $10.26. The firm has a market cap of $13.63 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71. Amcor plc has a one year low of $8.80 and a one year high of $11.48.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.33 billion. Amcor had a return on equity of 26.14% and a net margin of 5.89%. Amcor’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.51 annualized dividend and a dividend yield of 5.41%. Amcor’s dividend payout ratio is 92.73%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Truist Financial raised Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Jefferies Financial Group raised shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Bank of America upgraded Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.