131,689 Shares in Amcor PLC $AMCR Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Amcor PLC (NYSE:AMCR) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 131,689 shares of the company’s stock, valued at approximately $5,709,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc purchased a new position in shares of Amcor during the first quarter worth approximately $25,000. Bangor Savings Bank bought a new stake in shares of Amcor in the 2nd quarter worth approximately $26,000. Western Wealth Management LLC purchased a new stake in shares of Amcor in the 1st quarter valued at $27,000. DV Equities LLC purchased a new stake in shares of Amcor in the 4th quarter valued at $27,000. Finally, Larson Financial Group LLC grew its holdings in shares of Amcor by 46.1% during the 4th quarter. Larson Financial Group LLC now owns 3,985 shares of the company’s stock valued at $33,000 after purchasing an additional 1,257 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors.

Amcor Price Performance

Shares of NYSE AMCR opened at $46.68 on Thursday. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.76 and a current ratio of 1.25. The company has a market capitalization of $21.58 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 2.51 and a beta of 0.60. The company has a 50 day simple moving average of $45.28 and a two-hundred day simple moving average of $42.63.

Amcor (NYSE:AMCR) last announced its quarterly earnings data on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.04. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.05 billion. Amcor had a return on equity of 15.92% and a net margin of 4.71%.The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. Analysts expect that Amcor PLC will post 1.84 EPS for the current fiscal year.

Amcor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, September 4th. Amcor’s payout ratio is presently 110.17%.

Analyst Ratings Changes

A number of equities analysts recently commented on AMCR shares. UBS Group started coverage on shares of Amcor in a research report on Tuesday, August 11th. They issued a “buy” rating and a $56.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Amcor in a research report on Friday, August 7th. Wells Fargo & Company increased their price objective on Amcor from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Bank of America raised their target price on Amcor from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Citigroup reiterated a “buy” rating and issued a $52.00 price objective (up from $47.00) on shares of Amcor in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.49.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.