Amcor plc (NYSE:AMCR) Stake Boosted by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. raised its holdings in shares of Amcor plc (NYSE:AMCR) by 21.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 432,190 shares of the company’s stock after purchasing an additional 75,500 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Amcor were worth $4,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Amcor by 12.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 246,555 shares of the company’s stock valued at $2,377,000 after buying an additional 27,077 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Amcor by 173.4% during the 4th quarter. Teacher Retirement System of Texas now owns 311,839 shares of the company’s stock valued at $3,006,000 after purchasing an additional 197,760 shares during the period. Vanguard Group Inc. grew its position in Amcor by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 56,479,105 shares of the company’s stock worth $517,349,000 after purchasing an additional 325,747 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Amcor by 20.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,345,800 shares of the company’s stock valued at $12,974,000 after purchasing an additional 227,145 shares during the period. Finally, Element Capital Management LLC bought a new stake in shares of Amcor during the fourth quarter valued at approximately $763,000. 45.14% of the stock is owned by institutional investors and hedge funds.

Amcor Price Performance

Shares of NYSE:AMCR traded down $0.15 during trading hours on Friday, hitting $10.01. 5,692,216 shares of the company’s stock traded hands, compared to its average volume of 8,971,801. The company’s fifty day simple moving average is $9.64 and its two-hundred day simple moving average is $9.50. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 5.47 and a beta of 0.85. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.75 and a current ratio of 1.29. Amcor plc has a 52 week low of $8.45 and a 52 week high of $10.51.

Amcor (NYSE:AMCR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Amcor had a net margin of 4.75% and a return on equity of 24.66%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Amcor plc will post 0.7 EPS for the current fiscal year.

Amcor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.00%. Amcor’s dividend payout ratio is 111.11%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price objective on shares of Amcor from $9.90 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st.

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.