Credit Capital Investments LLC Acquires Shares of 19,500 Amcor PLC $AMCR

Credit Capital Investments LLC acquired a new position in shares of Amcor PLC (NYSE:AMCR) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 19,500 shares of the company’s stock, valued at approximately $179,000.

A number of other institutional investors have also modified their holdings of the stock. NewSquare Capital LLC grew its position in Amcor by 377.9% in the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company’s stock valued at $26,000 after buying an additional 2,222 shares during the last quarter. AdvisorNet Financial Inc raised its position in Amcor by 839.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company’s stock worth $28,000 after buying an additional 2,704 shares during the last quarter. Adirondack Trust Co. acquired a new stake in shares of Amcor in the 2nd quarter worth $29,000. Brentview Investment Management LLC purchased a new stake in shares of Amcor in the first quarter valued at about $31,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Amcor during the second quarter worth about $33,000. Institutional investors and hedge funds own 45.14% of the company’s stock.

Insider Activity

In other Amcor news, Director Stephen E. Sterrett purchased 10,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $8.55 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $85,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Amcor Stock Performance

Shares of AMCR stock opened at $8.42 on Thursday. The stock has a fifty day moving average price of $8.16 and a 200 day moving average price of $8.85. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.71 and a current ratio of 1.21. The stock has a market cap of $19.40 billion, a PE ratio of 23.38, a P/E/G ratio of 1.14 and a beta of 0.72. Amcor PLC has a 1 year low of $7.66 and a 1 year high of $10.70.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Amcor had a return on equity of 19.43% and a net margin of 3.40%.The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter last year, the business posted $0.16 earnings per share. The business’s revenue for the quarter was up 71.3% on a year-over-year basis. Sell-side analysts forecast that Amcor PLC will post 0.74 earnings per share for the current fiscal year.

Amcor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 28th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, November 28th. This is an increase from Amcor’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a yield of 6.2%. Amcor’s dividend payout ratio (DPR) is presently 152.94%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Amcor in a research report on Monday, September 22nd. They issued a “sector perform” rating for the company. Wells Fargo & Company decreased their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. The Goldman Sachs Group initiated coverage on Amcor in a report on Wednesday, September 10th. They set a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $11.50 price objective on shares of Amcor in a research report on Wednesday. Finally, JPMorgan Chase & Co. began coverage on shares of Amcor in a research report on Friday, September 19th. They set an “overweight” rating and a $10.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.91.

Amcor Company 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.