Nomura Asset Management Co. Ltd. Sells 248,070 Shares of Amcor plc (NYSE:AMCR)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Amcor plc (NYSE:AMCR) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,919,067 shares of the company’s stock after selling 248,070 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Amcor were worth $44,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI increased its holdings in Amcor by 85.9% in the 3rd quarter. National Bank of Canada FI now owns 738,733 shares of the company’s stock valued at $8,370,000 after acquiring an additional 341,270 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Amcor during the third quarter valued at about $364,000. EP Wealth Advisors LLC bought a new stake in shares of Amcor in the third quarter worth about $636,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Amcor in the third quarter worth about $232,000. Finally, Quantinno Capital Management LP lifted its position in shares of Amcor by 9.2% in the third quarter. Quantinno Capital Management LP now owns 444,920 shares of the company’s stock worth $5,041,000 after buying an additional 37,340 shares in the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Wall Street Analysts Forecast Growth

AMCR has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Robert W. Baird boosted their price target on shares of Amcor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Citigroup increased their price objective on shares of Amcor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Amcor from $10.00 to $11.10 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Finally, Macquarie upgraded Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.94.

Amcor Stock Performance

Shares of NYSE:AMCR opened at $10.20 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 1.80. Amcor plc has a 12 month low of $8.78 and a 12 month high of $11.48. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.83 and a beta of 0.82. The firm’s 50-day moving average is $10.69 and its 200 day moving average is $10.52.

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

Amcor Increases Dividend

The business 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 dividend of $0.1275 per share. This is a positive change from Amcor’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Thursday, November 21st. Amcor’s payout ratio is currently 96.23%.

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.