Tocqueville Asset Management L.P. Sells 179,164 Shares of Amcor plc (NYSE:AMCR)

Tocqueville Asset Management L.P. lessened its position in Amcor plc (NYSE:AMCR) by 34.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 341,025 shares of the company’s stock after selling 179,164 shares during the period. Tocqueville Asset Management L.P.’s holdings in Amcor were worth $3,209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMCR. Cibc World Markets Corp lifted its position in Amcor by 299.2% in the 4th quarter. Cibc World Markets Corp now owns 783,187 shares of the company’s stock valued at $7,370,000 after acquiring an additional 586,996 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Amcor in the 4th quarter worth $1,980,000. SlateStone Wealth LLC raised its stake in shares of Amcor by 3.1% in the fourth quarter. SlateStone Wealth LLC now owns 66,550 shares of the company’s stock worth $626,000 after purchasing an additional 2,000 shares during the last quarter. Renasant Bank bought a new position in shares of Amcor during the fourth quarter valued at $132,000. Finally, Avantax Advisory Services Inc. boosted its position in shares of Amcor by 14.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 19,174 shares of the company’s stock valued at $180,000 after buying an additional 2,440 shares during the last quarter. Hedge funds and other institutional investors own 45.14% of the company’s stock.

Insider Buying and Selling at Amcor

In other Amcor news, Director Achal Agarwal purchased 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $10.10 per share, for a total transaction of $101,000.00. Following the purchase, the director now owns 88,967 shares of the company’s stock, valued at approximately $898,566.70. This represents a 12.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMCR shares. Macquarie raised Amcor from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 27th. UBS Group upgraded shares of Amcor from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Truist Financial raised shares of Amcor from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $12.00 in a research report on Monday, January 6th. Citigroup raised Amcor from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $12.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised Amcor from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.46.

Amcor Trading Up 0.7 %

NYSE:AMCR opened at $9.91 on Wednesday. Amcor plc has a one year low of $8.80 and a one year high of $11.48. The business has a fifty day moving average price of $9.92 and a 200-day moving average price of $10.32. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.26 and a quick ratio of 0.71.

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

Amcor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.1275 per share. This represents a $0.51 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend was Wednesday, February 26th. Amcor’s payout ratio is 92.73%.

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.