IHT Wealth Management LLC Acquires 1,831 Shares of Amcor plc (NYSE:AMCR)

IHT Wealth Management LLC increased its stake in shares of Amcor plc (NYSE:AMCR) by 7.1% during the third quarter, HoldingsChannel.com reports. The firm owned 27,597 shares of the company’s stock after buying an additional 1,831 shares during the period. IHT Wealth Management LLC’s holdings in Amcor were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AMCR. CWM LLC lifted its holdings in Amcor by 149.6% during the 2nd quarter. CWM LLC now owns 54,482 shares of the company’s stock worth $533,000 after purchasing an additional 32,658 shares in the last quarter. Czech National Bank raised its holdings in shares of Amcor by 8.3% in the 2nd quarter. Czech National Bank now owns 275,423 shares of the company’s stock valued at $2,694,000 after acquiring an additional 21,114 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Amcor by 3.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 414,564 shares of the company’s stock valued at $4,054,000 after acquiring an additional 15,416 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Amcor in the 2nd quarter valued at about $47,000. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Amcor in the 2nd quarter valued at about $781,000. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on Amcor from $10.00 to $11.10 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Citigroup increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird increased their price objective on Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.94.

Amcor Price Performance

AMCR opened at $10.20 on Tuesday. The firm has a market cap of $14.74 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.83 and a beta of 0.82. Amcor plc has a 1 year low of $8.78 and a 1 year high of $11.48. The stock’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $10.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.29 and a quick ratio of 0.74.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. As a group, analysts predict that Amcor plc will post 0.74 earnings per share for the current year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Thursday, November 21st will be paid a $0.1275 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Amcor’s previous quarterly dividend of $0.13. Amcor’s dividend payout ratio (DPR) is presently 96.23%.

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.