Nomura Asset Management Co. Ltd. Has $42.15 Million Holdings in Amcor PLC $AMCR

Nomura Asset Management Co. Ltd. raised its position in shares of Amcor PLC (NYSE:AMCR) by 6.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,586,237 shares of the company’s stock after acquiring an additional 278,414 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.32% of Amcor worth $42,148,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMCR. NewSquare Capital LLC boosted its stake 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 purchasing an additional 2,222 shares during the period. AdvisorNet Financial Inc increased 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 period. Adirondack Trust Co. acquired a new stake in shares of Amcor during the second quarter worth $29,000. Brentview Investment Management LLC bought a new stake in shares of Amcor in the first quarter valued at about $31,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Amcor in the second quarter valued at about $33,000. Institutional investors own 45.14% of the company’s stock.

Amcor Price Performance

AMCR stock opened at $8.46 on Tuesday. The company’s 50-day moving average price is $8.17 and its two-hundred day moving average price is $8.83. The firm has a market cap of $19.49 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.14 and a beta of 0.72. The company has a quick ratio of 0.71, a current ratio of 1.21 and a debt-to-equity ratio of 1.18. Amcor PLC has a 12 month low of $7.66 and a 12 month high of $10.70.

Amcor (NYSE:AMCR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.77 billion. Amcor had a net margin of 3.40% and a return on equity of 19.43%. The firm’s revenue for the quarter was up 71.3% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. On average, analysts anticipate 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 issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.2%. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is 152.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMCR shares. The Goldman Sachs Group began coverage on shares of Amcor in a research report on Wednesday, September 10th. They set a “buy” rating on the stock. Morgan Stanley restated an “overweight” rating and set a $11.50 target price on shares of Amcor in a research report on Wednesday, November 12th. Royal Bank Of Canada began coverage on shares of Amcor in a research report on Monday, September 22nd. They issued a “sector perform” rating for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amcor in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on Amcor from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.91.

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.