First Mercantile Trust Co. reduced its stake in shares of Amcor plc (NYSE:AMCR) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,770 shares of the company’s stock after selling 1,910 shares during the period. First Mercantile Trust Co.’s holdings in Amcor were worth $192,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its position in Amcor by 4.5% during the 1st quarter. Geode Capital Management LLC now owns 26,792,380 shares of the company’s stock worth $312,098,000 after purchasing an additional 1,156,382 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Amcor by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 12,982,033 shares of the company’s stock valued at $151,630,000 after purchasing an additional 612,259 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Amcor by 8,376.1% in the 2nd quarter. American Century Companies Inc. now owns 12,105,092 shares of the company’s stock valued at $138,724,000 after purchasing an additional 11,962,277 shares in the last quarter. APG Asset Management N.V. grew its position in Amcor by 21.6% in the 1st quarter. APG Asset Management N.V. now owns 9,740,222 shares of the company’s stock worth $96,797,000 after purchasing an additional 1,733,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Amcor by 6.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,352,752 shares of the company’s stock worth $109,252,000 after purchasing an additional 585,658 shares during the last quarter. Institutional investors own 38.10% of the company’s stock.
Amcor stock opened at $12.32 on Wednesday. The stock has a market capitalization of $18.95 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 2.41 and a beta of 0.90. Amcor plc has a twelve month low of $10.26 and a twelve month high of $12.92. The company has a quick ratio of 0.75, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company has a 50 day moving average of $12.00 and a 200-day moving average of $11.87.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 28th. Investors of record on Wednesday, September 8th will be paid a $0.1175 dividend. The ex-dividend date is Tuesday, September 7th. This is an increase from Amcor’s previous quarterly dividend of $0.12. This represents a $0.47 annualized dividend and a dividend yield of 3.81%. Amcor’s dividend payout ratio is 63.51%.
In related news, insider Michael J. Zacka sold 8,440 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The shares were sold at an average price of $12.66, for a total value of $106,850.40. Following the completion of the transaction, the insider now owns 149,135 shares in the company, valued at approximately $1,888,049.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael J. Zacka sold 73,000 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were sold at an average price of $12.33, for a total transaction of $900,090.00. Following the completion of the transaction, the insider now owns 162,881 shares of the company’s stock, valued at approximately $2,008,322.73. The disclosure for this sale can be found here. Insiders sold 740,864 shares of company stock worth $9,381,620 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.
Several research analysts have recently issued reports on the stock. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a report on Thursday, July 1st. Zacks Investment Research upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, July 21st. The Goldman Sachs Group downgraded shares of Amcor from a “neutral” rating to a “sell” rating and cut their target price for the stock from $12.00 to $11.50 in a research report on Wednesday, August 18th. Finally, Jefferies Financial Group downgraded shares of Amcor from a “hold” rating to an “underperform” rating and set a $15.00 target price for the company. in a research report on Tuesday, September 7th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.77.
Amcor Plc operates as a holding company, which engages in the provision of consumer packaging business. It operates through the Flexibles and Rigid Packaging segments. The Flexibles segment develops and supplies flexible packaging globally. The Rigid Plastics segment manufactures rigid plastic containers and related products.
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