SlateStone Wealth LLC Has $626,000 Holdings in Amcor plc (NYSE:AMCR)

SlateStone Wealth LLC grew its holdings in Amcor plc (NYSE:AMCR) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,550 shares of the company’s stock after purchasing an additional 2,000 shares during the period. SlateStone Wealth LLC’s holdings in Amcor were worth $626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMCR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Amcor by 275.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,613,469 shares of the company’s stock valued at $74,931,000 after purchasing an additional 4,851,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Amcor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 46,052,929 shares of the company’s stock worth $433,358,000 after buying an additional 2,862,471 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Amcor by 39,411.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,811,600 shares of the company’s stock worth $31,855,000 after buying an additional 2,804,484 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Amcor during the fourth quarter worth $23,810,000. Finally, Barclays PLC increased its holdings in Amcor by 31.8% during the third quarter. Barclays PLC now owns 4,544,118 shares of the company’s stock worth $51,484,000 after buying an additional 1,096,664 shares during the last quarter. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Achal Agarwal acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the transaction, the director now directly owns 88,967 shares of the company’s stock, valued at $898,566.70. This trade represents a 12.66 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Amcor Trading Up 1.6 %

Shares of Amcor stock opened at $9.79 on Monday. The firm has a 50-day moving average of $9.90 and a 200-day moving average of $10.34. The stock has a market cap of $14.14 billion, a PE ratio of 17.79, a PEG ratio of 1.96 and a beta of 0.80. Amcor plc has a 52-week low of $8.80 and a 52-week high of $11.48. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.71 and a current ratio of 1.26.

Amcor (NYSE:AMCR) last announced its earnings results on Tuesday, February 4th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Amcor had a net margin of 5.89% and a return on equity of 26.14%. Amcor’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, sell-side analysts forecast that Amcor plc will post 0.74 EPS for the current year.

Amcor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Wednesday, February 26th will be given a $0.1275 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.21%. Amcor’s payout ratio is presently 92.73%.

Analyst Ratings Changes

AMCR has been the topic of a number of recent analyst reports. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Wednesday, December 11th. Jefferies Financial Group upgraded shares of Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Truist Financial upgraded shares of Amcor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $12.00 in a report on Monday, January 6th. Citigroup upgraded shares of Amcor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Macquarie raised shares of Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor 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.