AssuredPartners Investment Advisors LLC Invests $580,000 in Amcor plc (NYSE:AMCR)

AssuredPartners Investment Advisors LLC purchased a new stake in Amcor plc (NYSE:AMCR) in the fourth quarter, HoldingsChannel reports. The fund purchased 61,618 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors have also recently made changes to their positions in the business. Larson Financial Group LLC boosted its stake in Amcor by 3,410.3% during the third quarter. Larson Financial Group LLC now owns 2,387 shares of the company’s stock worth $27,000 after buying an additional 2,319 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Amcor by 247.4% in the 4th quarter. Jones Financial Companies Lllp now owns 3,735 shares of the company’s stock worth $35,000 after acquiring an additional 2,660 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Amcor by 3,794.1% during the 3rd quarter. True Wealth Design LLC now owns 3,310 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Amcor during the 4th quarter valued at about $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Amcor in the 4th quarter worth about $60,000. Institutional investors own 45.14% of the company’s stock.

Wall Street Analyst Weigh In

AMCR has been the subject of several recent analyst reports. Truist Financial upgraded Amcor from a “hold” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a research report on Monday, January 6th. Jefferies Financial Group upgraded Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Citigroup raised shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $11.00 to $12.00 in a research note on Monday, January 6th. Finally, Bank of America raised shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Three equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Stock Performance

AMCR stock opened at $9.72 on Friday. 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 1-year low of $8.80 and a 1-year high of $11.48. The business has a 50-day moving average price of $9.93 and a 200 day moving average price of $10.25. The company has a market capitalization of $14.04 billion, a P/E ratio of 17.66, a PEG ratio of 1.96 and a beta of 0.80.

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

Amcor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.1275 per share. The ex-dividend date was Wednesday, February 26th. This represents a $0.51 annualized dividend and a yield of 5.25%. Amcor’s dividend payout ratio (DPR) is presently 92.73%.

Insider Transactions at Amcor

In other news, Director Achal Agarwal bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

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.