Commerce Bank Trims Stock Position in Amcor plc (NYSE:AMCR)

Commerce Bank lowered its position in shares of Amcor plc (NYSE:AMCR) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,396 shares of the company’s stock after selling 3,167 shares during the period. Commerce Bank’s holdings in Amcor were worth $758,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Amcor during the second quarter valued at approximately $31,000. Berman Capital Advisors LLC lifted its position in Amcor by 363.9% during the second quarter. Berman Capital Advisors LLC now owns 3,210 shares of the company’s stock valued at $36,000 after purchasing an additional 2,518 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in Amcor by 441.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,894 shares of the company’s stock valued at $45,000 after purchasing an additional 3,175 shares during the last quarter. Advisory Services Network LLC bought a new stake in Amcor during the second quarter valued at approximately $93,000. Finally, Beacon Pointe Advisors LLC bought a new stake in Amcor during the second quarter valued at approximately $122,000. 38.84% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $13.20 price objective for the company in a report on Wednesday, December 15th. Zacks Investment Research upgraded shares of Amcor from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Friday, November 5th. Finally, TheStreet lowered shares of Amcor from a “b” rating to a “c” rating in a report on Friday, December 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.95.

NYSE:AMCR opened at $12.37 on Friday. The company has a fifty day moving average of $11.88 and a 200 day moving average of $11.91. Amcor plc has a 52 week low of $10.33 and a 52 week high of $12.92. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $18.97 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.04 and a beta of 0.92.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Tuesday, November 2nd. The company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.28 billion. Amcor had a net margin of 7.15% and a return on equity of 24.50%. During the same period in the prior year, the business posted $0.16 EPS. As a group, analysts anticipate that Amcor plc will post 0.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Wednesday, November 24th were given a dividend of $0.12 per share. This is an increase from Amcor’s previous quarterly dividend of $0.12. This represents a $0.48 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Tuesday, November 23rd. Amcor’s payout ratio is presently 80.00%.

In other news, insider Michael J. Zacka sold 90,000 shares of the company’s stock in a transaction dated Monday, December 6th. The shares were sold at an average price of $11.61, for a total value of $1,044,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Zacka sold 147,736 shares of the company’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $12.02, for a total transaction of $1,775,786.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,875 shares of company stock worth $2,822,314. Insiders own 0.28% of the company’s stock.

Amcor Company Profile

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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Institutional Ownership by Quarter for Amcor (NYSE:AMCR)

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